According to a recent survey, in 2012, the number of U.S. households that owned equitites was about:
a. 3 %
b. 27 %
c. 45 %
d. 55 %
c
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If the demand for jelly decreases, and the price of grapes (used to make jelly) rises
A) the equilibrium price of jelly falls and the equilibrium quantity of jelly might rise or fall. B) the equilibrium price of jelly rises and the equilibrium quantity of jelly might rise or fall. C) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly falls. D) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly rises.
Which of the following is NOT true regarding monopoly?
A) Monopoly is the sole producer in the market. B) Monopoly price is determined from the demand curve. C) Monopolist can charge as high a price as it likes. D) Monopoly demand curve is downward sloping.