Which of the following options can be exercised upon expiration at a price equal to the average price of the underlying over its life span?
a. Average options
b. Lookback options
c. Barrier options
d. Basket options
A
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Refer to the above figure. If the farmer is producing 4,000 bushels of beans and 38,000 bushels of wheat, then we know the farmer
A) is using resources efficiently. B) is producing too much wheat. C) is inefficient because point a is the most efficient point on the curve. D) must be using more resources than were assumed available in constructing the graph.
GDP could be calculated over:
A. a month. B. a quarter. C. a year. D. any time period.
Economists believe that scarcity forces everyone to
a. satisfy all their wants b. abandon consumer sovereignty c. limit wants d. create unlimited resources e. make choices
The difference between the economic and political functions of government is that
A. the economic function is concerned with correcting for market failures while the political function is not. B. the economic function is concerned with the reallocation of income while the political function is not. C. the economic function is concerned with the Federal Taxation system while the political function is not. D. the economic function encourages merit goods while the political function discourages demerit goods.