Which of the following is characteristic of the corporate form of ownership?
a. unlimited liability
b. easy transferability of ownership rights
c. no divisible ownership rights
d. absence of the principal-agent problem
B
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________ is a period of falling prices of goods and services in an economy
Fill in the blank(s) with correct word
If resource prices are flexible, the long-run aggregate supply curve is vertical
a. True b. False Indicate whether the statement is true or false
Quotas are most often supported by
A) foreign producers. B) foreign consumers. C) domestic consumers. D) domestic producers.
If the opportunity cost of producing a ton of coffee in the U.S. is twenty tons of rice, while the opportunity cost of producing a ton coffee in Costa Rica is four tons of rice, and the terms of trade are ten tons of rice delivered per ton of coffee received,
A. the U.S. can benefit by trading rice to Costa Rica for coffee. B. the U.S. can benefit by trading rice to Costa Rica for coffee, and Costa Rica can benefit by trading coffee to the U.S. for rice. C. Costa Rica can benefit by trading rice to the U.S. for coffee. D. Costa Rica can benefit by trading coffee to the U.S. for rice.