Fundamentally, a stock price is the ________ future earnings per share.
A. present value of expected
B. future value of expected
C. present value of only known
D. sum of expected
Answer: A
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Substitution effects help explain the slope of the aggregate demand curve. One substitution effect refers to the
A) inverse relationship between the interest rate and the price level. B) direct relationship between the interest rate and the real value of wealth. C) effect on investment expenditures that result from a change in interest rates produced by a change in the price level. D) change in wealth that results from a change in the interest rate.
Factors of production is another name for
a. the goods produced in a production possibilities table b. the goods not produced in a production possibilities table c. the goods produced in international trade d. resources e. money