Institutions that channel funds from people who have them to people who want them are called:
A. governmental agency.
B. financial intermediaries.
C. corporations.
D. the Federal Reserve.
Answer: B
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The long-run supply curve for a firm in a perfectly competitive industry is:
A) negatively sloped. B) positively sloped. C) vertical. D) horizontal.
A major advantage of the corporate form of business organization is the limited personal liability of the owners
a. True b. False
Both price floors and price ceilings lead to
a. shortages. b. surpluses. c. reductions in quality. d. a reduction in the quantity traded.
Dillon is undecided about whether to eat at a restaurant or to order pizza at home. He then obtains a coupon for 10 percent off at the restaurant and decides to go there to eat. This is an example of
A) someone using criteria other than price to make a consumption decision. B) a lower price leading a consumer to substitute more of the less expensive good for the relatively more expensive good. C) a lower price leading a consumer to buy more of a good because of the income effect. D) a consumer making a decision irrationally.