Firms that place their assets in the custody of a board of trustees is called a(n):
A. utility.
B. oligopoly.
C. trust.
D. cartel.
Answer: C
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The law of diminishing marginal returns shows the relationship between
A. accounting and economic profits." B. inputs and outputs for a firm in the long run. C. inputs and outputs for a firm in the short run. D. short run inputs and long run outputs for a firm
In the Keynesian model, investment, government spending, and net exports are treated as autonomous expenditures, which means they are independent of:
A. expectations. B. the price level. C. political processes. D. real GDP.
More complementary resources would tend to
A. raise the productivity and the marginal revenue product of labor. B. lower the productivity and the marginal revenue product of labor. C. raise the productivity of labor but lower its marginal revenue product. D. lower the productivity of labor but raise its marginal revenue product.
If real output is $50 billion, the price level is 10, and velocity is 5, what is the stock of money?
A. $1 billion B. $25 billion C. $100 billion D. $2,500 billion