If the interest rate were 12.5 percent, how much would people be willing to pay for a stock that was certain to yield a $20 per share stream of net earnings continuously in the future?

The substitution effect can be measured holding ________ constant

A) income B) utility C) the price of one good D) the price of all goods

Unregulated markets will tend to

a. rapidly deplete any natural resource. b. naturally conserve any depletable natural resource by pushing up its price every year by a constant dollar amount. c. naturally conserve a depletable resource by pushing up its price at a constant rate every year. d. deplete a resource unless new supplies are found.