The owners of a corporation are
A. The board of directors.
B. Liable for its debts.
C. Those people who own the bonds issued by the corporation.
D. The shareholders of the corporation's stock.
Answer: D
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Government programs that automatically shift the government budget toward a deficit during recessions and a surplus during recoveries are called
a. discretionary fiscal policy. b. automatic stabilizers. c. progressive taxation. d. price deflators.
People who consent to bear costs for the benefit of others whom they do not know personally usually do so
A) because they are concerned about the welfare of society. B) because they have been offered some benefit as an inducement. C) only when they are compelled by force. D) without calculating the costs to themselves.
Suppose that Congress passes an investment tax credit. The likely result will be
A) the supply curve for bonds will shift to the right. B) the demand curve for bonds will shift to the left. C) the demand curve for bonds will shift to the right. D) the equilibrium interest rate will fall.
The above figure shows Bob's utility function. He currently has $100 of wealth, but there is a 50% chance that it could all be stolen. Bob's expected utility is
A) a. B) b. C) c. D) d.