A corporation's shareholders are its:
a. board of directors.
b. residual claimants.
c. specialized active managers.
d. supervisors.
B
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Which of the following statements about payroll taxes is false?
A. They include Medicare taxes. B. Both employers and employees pay these taxes. C. They provide funds for Social Security. D. They are lump-sum taxes not based on wages/salaries.
The organization responsible for determining the start- and end-dates of a recession is
A) the National Bureau of Economic Research. B) the Bureau of Economic Analysis. C) the Federal Reserve. D) the U.S. Department of Labor.
GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services
a. True b. False Indicate whether the statement is true or false
If the United States can produce both wine and chocolate at a lower resource cost than France,
a. both countries can still benefit from specialization and international trade b. only the United States can benefit from specialization and international trade c. only France can benefit from specialization and international trade d. neither country can benefit from specialization and international trade e. there will be unknown effects of specialization and international trade