When a household owns shares of stock, _____
a. it has ownership rights in that firm
b. it is entitled to the majority of the firm's profits
c. it is liable to bear the entire loss faced by the firm
d. it can consume the firm's products without paying for it
e. it is responsible for correcting any defect in the product identified by the customers
a
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The fundamental force driving international trade is comparative _______
A. advantage: a country exports those goods that have high prices B. abundance: the country that produces more than it needs exports the good C. advantage: the country with the lower opportunity cost of production exports the good D. cost: a country trades with other countries that produce cheaper goods
Examples of life-cycle wealth include all of the following except
a. homes b. stocks and bonds c. wages and salaries d. automobiles e. personal clothing
The market for wheat is most likely considered a monopolistically competitive market
a. True b. False Indicate whether the statement is true or false
Economists who prefer a broader definition of money prefer the:
A. M1 measure of the money supply to the M4 measure. B. M2 measure of the money supply to the M1 measure. C. M5 measure of the money supply to the M2 measure. D. M1 measure of the money supply to the M2 measure.