In the late 1920s, you could buy $10,000 worth of stock by putting down as little as
A. $100.
B. $1,000.
C. $2,500.
D. $5,000.
B. $1,000.
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Mel's House of Cars is an automobile dealership that sells both new and used cars. Two other dealerships located near Mel's pay their salespeople a straight salary - they receive no commission for each car they sell
Mel has decided to pay all of his salespeople a commission on all car sales. Which of the following is most likely to occur as a result of Mel's decision? A) Mel will experience a principal-agent problem. Some of his salespeople will tend to shirk because they will not be paid if they sell no cars, regardless of how hard they work. B) Mel will be able to hire some of the most productive salespeople who work for the other two dealerships. C) Mel risks violation of federal law that regulates firms' compensation policies. D) Mel will have difficulty finding salespeople. Research by labor economists has found that most employees prefer the security of a salary to the uncertainty of being paid based on how much revenue they generate for their employers.
When looking at real world data, we see that the convergence theory:
A. holds nearly universally. B. holds for some countries, but not others. C. does not hold empirically. D. was proved false.
Retired persons travel by bus and automobile more frequently than do business executives, who more commonly use air travel. An economic explanation for this would be that
a. business executives have more time to travel. b. it is more important for retired persons to save time. c. business executives value their time more highly. d. retired persons have more money than do business executives.
In 2009, nominal GDP was $14,050 billion and M1 was $1,587 billion. Velocity was
A. 0.11. B. 8.85. C. 11.30. D. 14.25.