A legal claim to a part of a corporation's future profits is called
A) a bond.
B) a share of stock.
C) a dividend.
D) a financial debt.
Answer: B
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Under normal circumstances, the ratio of a country's export prices to its import prices should
a. increase as trade increases b. decrease as trade increases c. fluctuate as trade increases d. remain constant as trade increases e. none of the above
A monopsony is a market situation in which there is only one seller
a. True b. False Indicate whether the statement is true or false
Which of the following is characteristic of a competitive market?
(A) Low output (B) High costs (C) Inexhaustible supply (D) Efficiency
Consider an unregulated monopoly in Figure 13.2. Suppose that a second firm enters the market. As a result, if the demand curve facing each firm lies entirely below the long-run average cost curve:
A. only one of the two firm can makes a positive economic profit. B. both the first and the second firm make positive economic profits. C. neither firm makes a positive economic profit. D. There is not sufficient information.