Which of the following is true of American Depository Receipts (ADRs)?
a. ADRs cannot be sold "over the counter."
b. Each ADR is backed by a specific number of the issuer's local shares
c. An ADR is a stock that trades in foreign countries but represents a specified number of shares in a U.S. corporation.
d. For foreign companies, ADRs are an easy way to purchase raw material from U.S. producers.
e. ADRs are issued or sponsored in the United States by the federal government.
b
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The production function shows that as employment increases, real GDP
A) increases until it reaches potential GDP and then it starts to decrease. B) increases at a decreasing rate. C) decreases at a decreasing rate. D) increases at an increasing rate. E) increases at a constant rate.
The opportunity cost of something is
A) what you sacrifice to get the good. B) the price you pay for the good. C) what you are willing to pay for the good. D) a measure of the scarcity of the good.