A snack shop inside a hotel in a busy city has a monopoly on food sales if it is the only food vendor in the hotel that is open 24 hours a day
Indicate whether the statement is true or false
FALSE
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The stockholders of a corporation have ________ liability and ________ required to pay all of the firm's losses
A) limited; are B) limited; are not C) unlimited; are D) unlimited; are not
Used car buyers will believe that a car is of good quality when the seller signals the car's high quality by offering a warranty when
A) a warranty on a lemon is costly to the seller. B) warranties are offered on all cars. C) warranties are only offered on lemons. D) a warranty on a good car is a false signal.
When the federal budget is used as a tool for economic stabilization, the ideal goal is to
a. balance the budget over the entire business cycle. b. balance the budget each year. c. balance the budget during expansions. d. run a surplus during contractions.
A production possibilities frontier has a bowed shape if the opportunity cost is constant at all levels of output
a. True b. False Indicate whether the statement is true or false