The Connecticut General Incorporation act:
a. was passed in 1797 and allowed private citizens to pursue liability claims against corporations.
b. provided for the state legislature to grant charters.
c. expanded the liability for English joint-stock companies.
d. was passed in 1837 and made incorporation a right of anyone.
e. None of the above are correct.
d. was passed in 1837 and made incorporation a right of anyone.
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Suppose that the market for corn is perfectly competitive. If corn farmers are currently generating losses, then we would expect that in the long run the market
A. supply curve will shift to the left. B. supply curve will shift to the right. C. demand curve will shift to the right. D. demand curve will shift to the left.
Lucy works as a college instructor for a fixed annual salary of $30,000. She is considering quitting this job and becoming a real estate broker
Lucy believes that as a realtor she has a 40 percent chance to make $60,000 per year and a 60 percent chance to make $25,000 a year. The figure above shows Lucy's total utility of wealth curve (U). Lucy will decide to ________ and she will definitely make this choice because it gives her a greater expected ________. A) keep her current job; income B) keep her current job; utility C) quit her job and become a realtor; utility D) quit her job and become a realtor; income
All else equal, in which oligopolistic market below would one expect the markup to be the smallest?
A. An oligopolistic market with inelastic demand and a very few firms B. An oligopolistic market with elastic demand and a very few firms C. An oligopolistic market with inelastic demand and a greater number of firms D. An oligopolistic market with elastic demand and a greater number of firms
Price elasticity is unit elastic at the midpoint of a linear, downward-sloping demand curve
a. True b. False