Which of the following does NOT follow from the theory of efficient markets
A. no one consistently outperforms the market
B. short-run stock price changes are unpredictable
C. careful stock research will increase investment returns
D. stock prices incorporate all available information
Answer: C. careful stock research will increase investment returns
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Which of the following should be included in U.S. GDP?
A) a 3D television manufactured in Thailand and sold in the United States B) a 3D television manufactured in the United States and sold in Thailand C) a 3D television manufactured in Thailand by a U.S. firm and sold in the United States D) a used 3D television manufactured in the United States and sold in Thailand
If a firm supplies 200 units at a price of $50 and 100 units at a price of $40, using the midpoint method, what is the price elasticity of supply?
A) 0.33 B) 1.00 C) 3.00 D) 5.00 E) 8.50
An aggregate production function shows the relationship between
A) real GDP and leisure. B) real GDP and the quantity of labor employed. C) leisure and unemployment. D) real GDP and unemployment.
In perfect competition, the elasticity of demand for the product of a single firm is
A) 0. B) between 0 and 1. C) 1. D) infinite.