If a consumer prefers Apples to Bananas and prefers Bananas to Citrus Fruit, in order to satisfy assumptions about preferences she has to prefer
A) Bananas to Apples.
B) Citrus Fruit to Bananas.
C) Apples to Citrus Fruit.
D) Citrus Fruit to Apples.
C
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If a project's only risk is diversifiable,
A) only half the risk premium should be added to the discount rate. B) only half the risk premium should be subtracted from the discount rate. C) the risk premium should be added to the discount rate. D) the risk premium should be subtracted from the discount rate. E) no risk premium should be attached to the discount rate.
The random walk theory implies that stock prices
a. go down, then up, and then down again. b. follow systematic trends. c. can be forecast accurately by experts who are knowledgeable about how the stock market works. d. will change as the result of unexpected factors that are virtually impossible to forecast accurately.