In a publicly traded corporation, which of the following is responsible for business debts and activities?
A. The corporation itself.
B. The individual stockholders.
C. The board members.
D. The owners.
Answer: A
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Suppose Ford develops a technology enabling its full-size cars to get 150 miles per gallon. If it applies for a patent on that technology and is denied, Ford can expect to
a. still have a monopoly on that technology because Ford has monopoly power in the industry b. sell that technology to a competitor who will reapply for the patent c. be reimbursed for its investment in research by the government because it was the government that denied the patent in the first place d. earn lower profit than they would with the patent e. sell fewer cars in the short run, but more in the long run than its competition
Economic discrimination occurs when two equal factors of production are paid differently.
Answer the following statement true (T) or false (F)
Refer to the above figure. Suppose demand is D2 and then increases to D3. The change in economic rent is
A. area CIHF. B. area BJC. C. zero. D. area CIGO.
The consumption forecast shows:
A. a direct relationship between aggregate consumption and accumulated wealth. B. a direct relationship between aggregate consumption and aggregate income. C. an inverse relationship between aggregate consumption and accumulated financial wealth. D. an inverse relationship between aggregate consumption and the price level.