The owners of a corporation are
a. stockholders
b. managers
c. sole proprietors
d. partners
e. at risk of bankruptcy if the firm makes losses
A
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All else constant, a decrease in the level of economic activity in foreign countries could be expected to have an adverse effect on the domestic economy
Indicate whether the statement is true or false
In the short-run for a purely competitive market, a manufacturer will stop production when:
a. the total revenue is less than total costs b. the contribution to fixed costs is zero or less c. the price is greater than AVC d. operating at a loss e. a and b
The labor supply curve
a) slopes upward if the income and substitution effects of a wage increase exactly offset each other b) is vertical if the income effect of a wage increase is dominant c) is downward-sloping if the income effect of a wage increase is dominant d) is vertical if the substitution effect of a wage increase is dominant e) is horizontal in the long run
The Clayton Act of 1914:
A. outlawed price discrimination, tying contracts, acquisition of stocks of competing corporations, and interlocking directorates that lessen competition. B. prohibited unfair or deceptive acts or practices in commerce that tend to reduce competition. C. outlawed vertical and conglomerate mergers. D. prohibited one firm from acquiring the assets of another when the effect was to limit competition.