What is an outside director?
A) the CEO that is selected by the corporation's board of directors
B) a member of the board of directors who does not have a direct management role in the firm
C) a member of a corporate board of directors that is also a manager of the business
D) a board of director chair who has been in the job for less than one year
B
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Pineapple growing is a perfectly competitive industry. How does the market demand curve for pineapples compare to the demand curve for an individual pineapple grower?
What will be an ideal response?
Ceteris paribus, a change in the quantity supplied along the supply curve of Braun coffee makers is:
a. directly related to the price of a Morphy Richards coffee maker. b. directly related to the price of milk and cream. c. directly related to the prices of inputs used in the production of Braun coffee makers. d. directly related to changes in the technology used in producing coffee makers. e. directly related to the price of a Braun coffee maker.
Ceteris paribus, which of the following will cause the demand curve for basketballs to shift to the left?
A.) The cost of producing basketballs increases. B.) Consumer incomes increase. C.) Parents decide soccer is a better sport for their children than basketball. D.) People become more interested in basketball as more football players are arrested for drugs.
Which of the following is NOT a characteristic of a perfectly competitive market?
A) The products sold by the firms in the market are homogeneous. B) There are many buyers and sellers in the market. C) It is difficult for a firm to enter or leave the market. D) Each firm is a price taker.