A takeover implies that
a. the common shareholders buy out the bondholders
b. the government takes over the corporation
c. someone or a group is able to purchase all of the outstanding common stock in a corporation
d. the board of directors takes control of the corporation
e. a proprietorship sells out to a partnership
C
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
Why is economic development a contentious subject? Use one of the controversies mentioned in the chapter to illustrate why people may not agree on the answers
What will be an ideal response?
If Z is an inferior good, an increase in money income will shift the:
A. demand curve for Z to the left. B. supply curve for Z to the right. C. demand curve for Z to the right. D. supply curve for Z to the left.
A legal limit on the amount of sugar imported into the United States is
A) a tariff. B) a subsidy. C) a quota. D) a voluntary import restriction.