In an agency relationship, the costs incurred by agents to ensure that a principal is compensated if they take any action that is detrimental to the principal are known as
A. recurring losses.
B. bonding costs.
C. monitoring costs.
D. residual losses.
Answer: B
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A tariff can best be described as
A. an excise tax on an imported good. B. an excise tax on an exported good. C. a government payment to domestic producers to enable them to sell competitively in world markets. D. a law that sets a limit on the amount of a good that can be imported.
Many economists believe that our price indexes ________ the true inflation rate
A) minimize B) overstate C) understate D) perfectly measure
The figure above shows depicts the marginal revenue and costs of a perfectly competitive firm. When 170 units are produced, the firm
A) would definitely shut down. B) would incur an economic loss. C) would increase its price. D) has total costs less than $2,720.
All of the following are included in M1 EXCEPT
A. coin and currency. B. checking account balances. C. money market mutual fund shares. D. traveler's checks.