A legal claim against a firm that usually entitles the owner of the claim to receive a fixed annual coupon payment, plus a lump-sum payment at some future date, is known as
A. a bond.
B. a share of preferred stock.
C. a reinvestment coupon.
D. a share of common stock.
Answer: A
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If firms in an oligopolistic industry successfully collude and form a cartel, what price and output will result?
A) the monopoly price and output B) the competitive price and output C) the monopolistically competitive price and output D) a price higher than the monopoly price and, because there is more than one firm in the industry, more output than the monopoly amount E) a price lower than the competitive price and, because there are only a few firms in the industry, less output than the competitive amount
The equilibrium price of a good sold in a competitive market is $10. If an individual firm decides to sell its product at a price higher than $10, ________
A) the firm's profits will increase B) the firm's revenue will increase C) the firm will lose all its consumers D) the firm's cost of production will decrease
The primary aluminum industry in the United States would be described by an economist as:
A. pure competition. B. oligopoly. C. pure monopoly. D. monopolistic competition.
In the circular flow model, the value of total production for an economy ________ the value of total expenditures on final goods and services
A) equals B) is less than C) may be greater than or less than D) is greater than