Which of the following is true of a corporation's stock?
a. Stocks are highly illiquid assets.
b. Stocks can be easily transferred from one person to another.
c. Dividends declared on stocks are not subject to personal income tax.
d. Dividend declared on stocks assure a steady income to the stockholders.
B
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The figure below shows the supply and demand curves for jeans in Smallville. 
At the price of $60 per pair, sellers offer _____ pairs of jeans per day, and buyers wish to purchase ________ pairs of jeans a day.
A. 8; 24 B. 16; 16 C. 24; 8 D. 60; 20
A _____ is when no one outcome can defeat all others by majority rule
a. cyclical majority b. single-peaked preference c. political business cycle d. political institution
An appreciation of the U.S. dollar ________ the price of U.S. imports, and ________ the price of U.S. exports
A) lowers, lowers B) increases, increases C) increases, lowers D) lowers, increases
The use of GDP to measure the economy began
A. as part of the Great Society legislation. B. during the Ford administration. C. in the 1930s. D. after World War II.