The owners of a corporation are
A) the employees of the firm.
B) the shareholders.
C) completely in control of the firm.
D) taxed only once.
B
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Adverse selection exists when
A. the parties on one side of the market, who have information not known to others, self select in a way that benefits the parties on the other side of the market. B. the parties on one side of a market charge more for something than the parties on the other side of the market want to pay. C. one party to a transaction changes his or her behavior in a way that is hidden from and costly to the other party. D. the parties on one side of the market, who have information not known to others, self select in a way that adversely affects the parties on the other side of the market. E. none of the above
A college student is thinking about running an ice-cream truck over the summer. Which of the following would likely be an ongoing expense of the business?
A. The cost of the truck B. The cost of the gasoline used C. The cost of ice cream scoopers D. None of these is an ongoing expense.
Costs increase with output in an increasing-cost industry because:
A. input prices increase as the industry competes for scarce resources. B. firms may be forced to use less productive inputs. C. the firms become monopolies. D. Both input prices increase as the industry competes for scarce resources and firms may be forced to use less productive inputs are correct.
Do changes in relative inflation rates affect the value of a nation’s currency?
What will be an ideal response?