The word "efficient" in the term "efficient markets hypothesis" refers to the idea that
a. fundamental analysis is an efficient way to go about choosing which stocks to buy or sell.
b. stock prices move upward and downward "efficiently," rather than following a "random walk.".
c. the stock market is "informationally efficient.".
d. companies employ officers and managers who are well-qualified to perform their jobs.
c
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The producer surplus on a unit of output is the difference between the market price and the opportunity cost of producing it
Indicate whether the statement is true or false
Which of the following is not included in a nation's balance of payments?
a. Imports and exports of services. b. International interest and dividend earnings. c. Total holdings of the central bank's international reserves. d. All of the above are included in the balance of payments.