For this question, assume that there are decreasing returns to capital, decreasing returns to labor, and constant returns to scale. Now suppose that both capital and labor decrease by 5%. Given this information, we know that output (Y ) will A. the reduction in Y will be more than 5% but less than 10% B. decrease by less than 5% C. decrease by 5% D. not change E. none of the above

No

Explanation:

No. "sale" or "sell" includes every attempt or offer to dispose of, or solicitation of an offer to buy a security or interest in a security for value. Obtaining a loan secured by a pledge of stock unmistakably involves a "disposition of..interest in a security. Although pledges transfer less than the absolute title, the interest thus transferred is and "interest" in a security. It is not essential under the terms of the act that full title passes to a transferee for the transaction to be an "offer" or a "sale"