In general, when people talk about investing, they mean that they:
A. hold stocks or bonds.
B. have lent their money to someone who will use it to buy physical capital.
C. have put money in the stock market.
D. All of these statements are true.
Answer: D
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Blue pens and black pens are close substitutes. The cross elasticity of demand for black pens with respect to the price of blue pens is ________
A) positive B) negative C) equal to 1 D) zero
ABC Company incurs a cost of 50 cents to produce a dozen eggs, while XYZ Company incurs a cost of 70 cents to produce a dozen eggs. Which of the following price increases would cause both companies to experience an increase in producer surplus?
a. The price of a dozen eggs increases from 40 cents to 55 cents. b. The price of a dozen eggs increases from 55 cents to 70 cents. c. The price of a dozen eggs increases from 55 cents to 75 cents. d. All of these price increases would cause both companies to experience a loss in producer surplus.