A member of a corporate board of directors that does not have a direct management role in the firm is known as
A) a shareholder. B) a corporate governor.
C) an inside director. D) an outside director.
D
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The above figure shows the U.S. market for wheat. With international trade, the United States exports ________ of wheat
A) 300,000 tons B) 500,000 tons C) 700,000 tons D) 400,000 tons E) None of the above answers is correct because the United States imports wheat.
Two goods are considered substitutes when the cross elasticity of demand is ___ and complements when the cross elasticity of demand is ___
a. Greater than zero, less than zero. b. Less than zero, greater than zero. c. Greater than one, less than one. d. Less than one, greater than one.
A monopolist produces where P = MC = MR
a. True b. False Indicate whether the statement is true or false
The agricultural nation of Luckidom is attempting to answer the three fundamental economic questions. Develop the three questions as they relate to this nation.
A. 1. Should we produce more wheat and fewer soybeans? 2. Should we farm with equipment or by hand? 3. Do the farmers or the governors receive a higher salary? B. 1. Should we farm with equipment or by hand? 2. Do the farmers or the governors receive a higher salary? 3. Should we grow near the riverbed or by the coast? C. 1. Do the farmers or the governors receive a higher salary? 2. Should we grow near the riverbed or by the coast? 3. Should we produce more wheat and fewer soybeans? D. 1. Should we grow near the riverbed or by the coast? 2. Should we produce more wheat and fewer soybeans? 3. Should we farm with equipment or by hand?