A corporation is not
a. a legal identity separate from shareholders
b. eligible to issue stock as a method of acquiring capital to expand operations
c. allowed to file for bankruptcy protection
d. a business form allowing owners to earn income
e. a business organization whose ownership is the same as management
E
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Explain how the following will affect the relative values of the dollar and the English pound
a. Income growth is higher in the United States than in England. b. Inflation is higher in England than in the United States. c. Real interest rates are higher in the United States than in England.
This profit-maximizing (loss-minimizing) firm produces a quantity of about _______ units.
A. 100
B. 80
C. 50
D. 30
The income effect of an inferior good is negative.
a. true b. false
If cyclical unemployment is eliminated in the economy, then
A) the economy is considered to be at full employment. B) the unemployment rate is below the natural rate of unemployment. C) the unemployment rate is above the natural rate of unemployment. D) the economy is at less than full employment.