Informal liquidation is also known as
a. assignment
b. bankruptcy
c. reorganization
d. removal of assets
e. selling the business
a. assignment
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The demand curve illustrates the fact that consumers tend to purchase:
A. name-brand products more frequently than generic products. B. more of a good as its price falls. C. more of a good as their incomes rise. D. more of a good as it becomes more popular.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Which of the following statements is true?
A) Income inequality within most countries has increased during the past 20 years. B) Income inequality across the entire world has decreased during the past 20 years. C) Income inequality within most countries and across the entire world has not changed much during the past 20 years. D) Both A and B are correct. E) None of the above is correct.
The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium?
A. $4 and $6 B. $6 and $4 C. $8 and $12 D. $16 and $9