Stock represents
a. a claim to a share of the profits of a firm.
b. ownership in a firm.
c. equity finance.
d. All of the above are correct
d
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The income effect of a decrease in the price of macaroni and cheese (assume this is an inferior good) results in
A) an increase in the demand for macaroni and cheese. B) an increase in the quantity of macaroni and cheese demanded. C) a decrease in the quantity of macaroni and cheese demanded. D) a decrease in the demand for macaroni and cheese.
Which of the following is true about entrepreneurs?
a. They have the talent required to dream up a new product or find a better way to produce an existing one. b. They are rewarded by profits. c. They sometimes suffer losses. d. They benefit from what's left over after paying other resource suppliers. e. All of the answers are correct.
According to the World Bank, nearly 2 billion people are classified as being in ________ poverty.
A. harsh B. overwhelming C. severe D. extreme
Compared with the market clearing price of a health care service covered by Medicare, the Medicare program pays a ________ price to health care providers and charges a ________ price to consumers
A) lower, lower B) lower, higher C) higher, lower D) higher, higher