In NASCAR, the IRL, and Formula 1 racing, the common key feature of the ownership structure is that they are all governed by
A. cooperative arrangements of drivers and team owners.
B. family-owned monopolies.
C. corporate governance structures that require that all decisions be made by a Board of Directors.
D. perfect competition.
Answer: B
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A 20 percent increase in the quantity of pizza demanded results from a 10 percent decline in its price. The price elasticity of demand for pizza is
A) 0.5. B) 2.0. C) 10.0. D) 20.0.
With the followings is NOT one of the reasons why quantitative easing in and of itself will not necessarily be stimulative?
A) Most of the resulting increase in the monetary base just flows into holdings of excess reserves. B) Banks just add to their holdings of excess reserves instead of making loans. C) The asset purchase program involves only the purchase of short-term government securities. D) The asset purchase program involves only the purchase of long-term government securities.
In the short run, there is a direct relationship between:
a. the actual price level and nominal GDP, other things constant. b. the profits and potential output supplied, other things constant. c. the cost of production and the actual profit earned by firms, other things constant. d. the actual price level and real GDP supplied, other things constant.
In the short run:
A. firms have the ability to enter or exit the industry. B. firms are able to alter some, but not all, of their factors of production. C. firms are unable to adjust their output choices. D. None of these are correct.