A certificate of ownership and claim to part of a firm's profits is called
A) depreciation.
B) a stock.
C) physical capital.
D) a bond.
E) a certificate of deposit.
B
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A meditation class meets on the second floor of a building; the first floor is a nightclub. The loud music from the club disturbs the classes. The club could be soundproofed for a cost of $5,000 or move at a cost of $8,000 . The class can't soundproof enough to overcome the music, but could be moved for $4,000 . According to Coase,
a. the club should be soundproofed so both businesses can stay open b. the club should be soundproofed because it is the one generating the externality c. the club should move rather than be soundproofed because eliminating an externality is better than compensating for it d. the class should move because it can eliminate the externality at a lower cost than can the nightclub e. whichever business has been there longer has the overriding property right; the other should adjust
The demand curve for capital:
a. shows the positive relation between capital usage and the quantity of capital demanded. b. shows the positive relation between aggregate output and the quantity of capital demanded. c. shows the negative relation between rate of inflation and the quantity of capital demanded. d. shows the positive relation between technological change and the quantity of capital demanded. e. shows the negative relation between price of capital and the quantity of capital demanded.
Producers of computer software are plagued with the problem of “pirating,” that is, many people copy software legally purchased by others. The industry estimates that for each legal copy of a program, there are two pirated copies in use. The industry wants strict laws for the enforcement of its “intellectual property rights,” but enforcement is obviously very difficult. Economists call this problem
A. depletability. B. externality. C. durability. D. nonexcludability.
Which of the following countries would economists say definitively is achieving modern economic growth?
A. Zimbabwe experiences a 5.6 percent increase in nominal GDP. B. South Africa experiences a 4.2 percent increase in real GDP. C. Ghana experiences a 3.6 percent increase in nominal GDP per person. D. Nigeria experiences a 2.7 percent increase in real GDP per person.