Which of the following is true of American Depository Receipts (ADRs)?
a. ADRs cannot be sold over the counter.
b. Each ADR is backed by a specific number of the issuer's local shares.
c. An ADR is a stock that trades in foreign countries but represents a specified number of shares in a U.S. corporation.
d. For foreign companies, ADRs are an easy way to purchase raw material from U.S. producers.
e. ADRs are issued or sponsored in the United States by the federal government.
Question 2
The law of diminishing marginal utility states that:
a. the marginal utility of the last unit consumed of any good is less than the marginal utility of all other products consumed.
b. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, increases.
c. as more of a good or service is consumed, the marginal utility derived from it decreases.
d. as more of a good or service is consumed, the marginal utility derived from it, relative to other products, remains the same.
e. the marginal utility of all products consumed must be equal.
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