In the 1970s, the Organization of Petroleum Exporting Countries (OPEC) tripled the price of petroleum, causing automobile manufacturers to look for ways to produce more fuel-efficient cars by substituting aluminum and plastic for steel. This was primarily a response to the economic question of:
A) When will each good be produced?
B) For whom shall the goods be produced?
C) What goods and services should a society produce?
D) How should goods and services be produced?
Answer: D) How should goods and services be produced?
Economics
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Specialization and exchange result from differences in productivity that lead to
A) self-sufficiency. B) comparative advantage. C) absolute advantage. D) opportunity cost.
Economics
Suppose you plan to hold a stock for one year. You expect that, in one year, it will sell for $30 and pay a dividend of $3 per share. If your required return on equity is 10%, what is the most you should be willing to pay for the share today?
A) $3.30 B) $23 C) $30 D) $33
Economics