According to the text, the real source of power in the modern corporation lies with the
a. stockholders
b. bondholders
c. board of directors
d. bankers
e. managers
E
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Any output combination outside a production possibilities frontier is associated with unused or
underutilized resources. Indicate whether the statement is true or false
To maximize overall profit in peak-load pricing, managers must determine ________ capacity that maximizes ________ season profit.
A) long-run; peak- B) short-run; peak- C) long-run; off-peak D) short-run; off-peak
The private sector cost of tax revenues is equal to the
a. tax revenue collected by government from individuals in the economy. b. income that could have been earned by government employees if they had worked in the private sector. c. difference between government expenditures and tax revenues. d. tax revenue plus the cost of tax compliance and the excess burden of taxation.
GNP equals GDP
A) minus net receipts of factor income from the rest of the world. B) plus receipts of factor income from the rest of the world. C) minus receipts of factor income from the rest of the world. D) plus net receipts of factor income from the rest of the world. E) minus depreciation.