When a firm establishes a long-term contract with another firm, whereby the first firm grants the second independent business the rights to use the former's name, reputation and business format, it is referred to as a:
A. lease contract.
B. joint venture.
C. franchise agreement.
D. standard supply contract.
Answer: C
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The National Industrial Recovery Act (1933)
(a) did not permit businesses to set prices and production quotas. (b) established three advisory boards composed of government, Webb-Pomerene firms and members of the Federal Reserve System. (c) was thrown out by the Supreme Court in May 1935. (d) prohibited collective bargaining.
A person's productive contribution in a capitalist society is measured by determining the
A) market value of the individual's output. B) comparable output of other workers in similar jobs. C) total number of goods produced by the individual. D) index of occupational values.
Suppose that your demand schedule for jeans is shown in the table below.
A) Your total utility from 5 pairs of jeans would be _____.
B) Your marginal utility for the fifth pair would be _____.
C) If the price of jeans were $10 a pair, your consumer surplus would be _____.
The key difference between a stock and a flow is that a flow is measured ________ , while a stock is measured ________
a. at a point in time; over an interval of time b. over an interval of time; at a point in time c. over a single year; over a single month d. over a single month; over a single year