The three noteworthy features of corporations’ legal status include all of these except
A. how they are taxed.
B. special limits are placed on the losses that may be incurred by those who invest in corporations.
C. the corporation is a distinct entity separate from its owners.
D. they may invest in the stock market and acquire financing.
Answer: D
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Social preferences chosen from behind the veil of ignorance are likely to value efficient outcomes and are likely to treat individuals symmetrically. ?
Answer the following statement true (T) or false (F)
Table 13.1XYZ Bank Balance SheetAssetsLiabilitiesTotal reserves$100,000Transactions accounts$400,000Loans300,000??Refer to Table 13.1. With a required reserve ratio of 12 percent, XYZ Bank would have excess reserves of
A. $100,000. B. $48,000. C. $12,000. D. $52,000.
Suppose the goal of a union is to maximize the total income of all workers it represents. In this case, it will probably aim for a wage at which the elasticity of demand for workers is
A. 0 B. infinite. C. 1 D. ranging from 2 to 5.
Economic cost can best be defined as:
A. any contractual obligation that results in a flow of money expenditures from an enterprise to resource suppliers. B. any contractual obligation to labor or material suppliers. C. a payment that must be made to obtain and retain the services of a resource. D. all costs exclusive of payments to fixed factors of production.