Which of the following statements is most correct?
A. Stockholders have unlimited liability and can dislodge members of the board of directors.
B. Stockholders can dislodge the managers of the corporation but not the board of directors.
C. Stockholders have limited liability and have no control over corporate leadership.
D. Stockholders can dislodge members of the board and have limited liability.
Answer: D
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A budget line can show all butoneof the following statements below. Which one does itnotshow?
A. The budget line shows the available choices to a household. B. It is a curve of constant expenditure. C. The slope of the budget line increases as the quantity of a good consumed increases. D. The budget line shows how much it costs to purchase a combination of two goods, for a set income and prices.
A tax of 10 percent of the ticket price of an airplane ticket is _____
a. a unit tax b. an ad valorem tax c. an income tax d. a value-added tax
In most societies, resources are allocated by
a. a single central planner. b. a small number of central planners. c. those firms that use resources to provide goods and services. d. the combined actions of millions of households and firms.
The three broad types of resources used to produce goods and services are also known as:
A) economic systems. B) factors of production. C) production possibilities. D) financial capital.