A “specialist” is a
A. stockholder who finds buyers and sellers for specific stocks, but also operates outside of specific stock markets.
B. person who works on the floor of the New York Stock Exchange and specializes in certain stocks.
C. stockbroker who operates only in a particular regional stock market.
D. stockbroker who specializes in the “third market.”
Answer: B
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The Food for Peace program is designed to:
A. achieve 100 percent price parity for all farm products. B. discover new uses for farm products through research and development. C. take agricultural land out of the production of feed grains. D. facilitate the distribution of surplus U.S. farm products in the developing countries.
Diminishing returns refers to the decrease in
A. average total cost that results from decreases in input prices. B. long-run average cost that results from increases in output. C. profit that results from increases in output. D. marginal product that results from increases in the variable input. E. average product that results from increases in the variable input.