Cash payments that companies make to shareholders are called
a. annuities.
b. dividends.
c. premiums.
d. favorables.
b
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Which of the following is not consistent with perfect competition?
a. all firms face the same costs. b. firms cannot determine the price of the goods they sell. c. the marginal product of labor is diminishing. d. firms negotiate the same wages for different workers.
Use the sticky-wage theory of aggregate demand to explain the short-run Phillips curve
When price is $5 per unit, quantity demanded is 12 units. When price is $6 per unit, quantity demanded is 8 units. The value of the absolute price elasticity of demand is approximately
A. 0.36. B. 2.20. C. 1.82. D. 4.00.
Tasty Chicken has been buying its animal feed in the open market. It notices that about 10 percent of its purchases are watered down, so that the feed seems to weigh more than it actually does. To improve quality of its purchases, Tasty Chicken might consider:
A. going out of the chicken processing business. B. lobbying for new laws concerning water levels in feed. C. hiring an economist to see if the market is really competitive. D. moving to long-term contracts with specific feed producers.