A bond is
A. a claim on the assets of a corporation such that the purchaser has an ownership right in the corporation.
B. anything of value to which the firm has a legal claim.
C. a means of assuring that the business firm will pay its debts or fulfill other legal obligations.
D. a promise to pay for the use of someone else's money.
Answer: D
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Holding everything else constant, an increase in the price of MP3 players will result in
A) a decrease in the demand for MP3 players. B) a decrease in the quantity of MP3 players supplied. C) an increase in the supply of MP3 players. D) a decrease in the quantity of MP3 players demanded.
Since Social Security benefits are paid from current contributions, the system is a
A) privatized system. B) overfunded system. C) "pay-as-you-go" system. D) defined contribution system.
Laissez faire refers to a program of minimal interference in the market system
a. True b. False Indicate whether the statement is true or false
A delivery company lowers its automobile insurance costs as it increases in size because as the size of the fleet of delivery trucks increases, the premium per driver decreases substantially. This is an example of
A. economies of scale. B. constant returns to scale. C. diseconomies of scale. D. diminishing marginal returns.