Today's corporate structures have very little in common with the joint-stock companies of colonial America
Indicate whether the statement is true or false
False
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Opportunity cost can best be defined as the
A. money cost of a good or service. B. money cost plus interest on money borrowed to buy a good or service. C. cost of the resources used to produce a good or service. D. value of the best alternative forgone when the alternative at hand is chosen.
In a business cycle, the period following a trough is called an expansion
Indicate whether the statement is true or false
Government polices aimed at changing the underlying structure or institutions of the nation's economy are called:
A. fiscal policy. B. structural policy. C. trade policy. D. monetary policy.
A consultant has advised Consolidated Fish, Inc., a perfectly competitive firm, that it should cut back its production in order to increase its profits. We can conclude from this that
A. CF's total costs must be greater than its total revenues. B. CF's marginal cost must be greater than the price of its product. C. fixed costs are not being covered and CF should shut down. D. CF's costs are increasing at a rate less than its revenues.