Economics is the study of
A. the determinants of preferences.
B. nonhuman phenomena.
C. scarce resources and unlimited wants.
D. the physical sciences.
Answer: C
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Indefining environmental risk, exposure refers to the
a. source of environmental damage and the benefits of eliminating the damage b. pathway between the source of the environmental damage and the affected population c. pathway between the source of the environmental damage and the affected natural resource d. all of the above e. (b) and (c) only
In the constant-growth dividend valuation model, the required rate of return on common stock (i.e., cost of equity capital) can be shown to be equal to the sum of the dividend yield plus the ____
a. yield-to-maturity b. present value yield c. risk-free rate d. dividend growth rate e. none of the above
An "increase in demand" means that
A) the demand curve has shifted to the left. B) price has declined and consumers want to purchase more of the good. C) the demand curve has shifted to the right. D) the price of the good can be expected to decline, assuming supply stays constant.
Figure 7-7
In Figure 7-7 at 100 units, FC equals
a.
1,000.
b.
1,800.
c.
800.
d.
80.