In a competition of financial analysts vs. throwing a dart to choose stocks, according Burton Malkiel, financial analysts came out ahead due to all of the following reasons EXCEPT:
A) it considered only stock prices, not dividends
B) investors that followed the contest were influenced to purchase the stocks recommended by the analysts
C) failure of the Efficient Markets Hypothesis
D) part of the return for the analysts resulted from compensation for the higher risk of the stocks chosen
C
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Trade theorists have proven that the gains from international trade
A) must raise the economic welfare of every country engaged in trade. B) must raise the economic welfare of everyone in every country engaged in trade. C) must harm owners of "specific" factors of production. D) will always help "winners" by an amount exceeding the losses of "losers." E) usually outweigh the benefits of protectionist policies.
The marginal product of labor indicates ________. Therefore the MPL curve is also ________
A) the quantity of labor supplied for a given wage; the equilibrium price of labor B) the quantity of labor demanded for a given wage; the equilibrium price of labor C) the quantity of labor demanded for a given wage; the demand curve of labor D) the quantity of labor supplied for a given wage; the supply curve of labor E) none of the above