A certain investment involves ownership in a single company, pays a set dividend, and guarantees that its owners get paid before some investors, but after others. What type of investment is this?
a. a mutual fund
b. a bond
c. common stock
d. preferred stock
d. preferred stock
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For a monopoly able to practice perfect price discrimination, the market
A) supply curve is the same as the marginal cost curve. B) supply curve is the same as the marginal revenue curve. C) demand curve is the same as the marginal cost curve. D) demand curve is the same as the marginal revenue curve.
The United States first instituted an income tax in
a. 1851 b. 1861 c. 1871 d. 1881
We would expect that a fall in labor supply will have a proportionately smaller effect on the market wage rate when
A) workers can easily be replaced by capital goods. B) the product produced in the industry has very few substitutes. C) the product is produced in a perfectly competitive industry. D) labor represents a relatively small portion of total costs.
While the classical economists believed that both velocity and output are stable, Keynesians believe:
a. velocity and output are both variable. b. output is stable and velocity is variable. c. the same as the classical economists that both output and velocity are stable. d. velocity is stable and output is variable.