When you own part of a company and share in its profits, we say that you have:
A. credit with that company.
B. intermediary stock in that company.
C. financial diversification in that company.
D. equity in that company.
Answer: D
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In a recession, which unemployment rate is the highest?
A) the U-1 unemployment rate B) the U-6 unemployment rate C) the U-2 unemployment rate D) the U-3 unemployment rate E) None of the above answers is correct because the highest unemployment rate changes from one recession to the next.
If losses are unavoidable in an uncertain world, then
A) profits are too. B) profits are only the result of good luck. C) profits are avoidable. D) profits are the result of people acting with perfect information.
If an economy can produce a maximum of 100 units of good X and the opportunity cost of 1X is always 5Y, then what is the maximum number of units of good Y the economy can produce?
A) 250 B) 100 C) 20 D) 500 E) none of the above
Refer to Table 17.2. If the price of output is $2 per unit and the wage rate is $40, how many workers should be hired?
A. six workers B. five workers C. four workers D. three workers