Federal law now requires that a majority of the directors on the board of a corporation be? _______.
A. top management of the corporation
B. independent
C. competitors
D. employees in the same industry
E. sole proprietors
B. independent
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One of the principal defects of using a commodity as money is that its worth as a:
A. commodity may exceed its worth as money, causing it to cease functioning as a medium of exchange. B. medium of exchange may exceed its worth as a store of value, causing it to cease being useful as money. C. medium of exchange may exceed its worth as a standard of account, causing it to cease being useful as money. D. unit of account may exceed its worth as a store of value, causing it to cease being useful as money.
The need to make choices is most closely related to the economic concept of
A) opportunity cost. B) efficiency. C) inefficiency. D) utility. E) disutility.
Any policy change that reduced the natural rate of unemployment would
a. shift the long-run Phillips curve to the left. b. shift the long-run aggregate-supply curve to the right. c. improve the functioning of the labor market. d. All of the above are correct.
Comparing the cost of the same basket of goods in different locations:
A. can be used for international price comparisons. B. can create a price index to evaluate purchasing power across different locations. C. is based on the theory of purchasing power parity. D. All of these statements are true.