All of the following are characteristics of stock except
A) stock does not represent a promise to repay a fixed amount of funds.
B) stock promises to repay a fixed amount to of funds to stock owners.
C) stock represents ownership in a firm.
D) dividends paid to owners of stock represent a firm's profits.
B
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In a cartel
A) each firm has an incentive to decrease its own production below the level set by the cartel. B) the firms' marginal cost equals the price set by the cartel. C) each firm has an incentive to lower its price below the level set by the cartel. D) each firm has an incentive to raise its price above the level set by the cartel.
Transfer payments provide benefits to
a. all those in need b. those who have paid into governmental funds through their workplace c. those who are eligible recipients d. those who provide some service to the government e. anyone transferring from one stage of their life to another
The price is likely to be quite stable in the godfather model because
a. the market functions like a cartel b. the other firms in the industry have cost advantages over the godfather c. the godfather could decrease price below levels that other firms could afford d. entry into the market is easy e. all firms are maximizing profit anyway
Pollution taxes are preferred to direct controls because they don't require a way of measuring pollutants produced
a. True b. False Indicate whether the statement is true or false