A share of stock in a corporation is
A) a guarantee to a fixed amount of income from the corporation.
B) a legal claim to a lump-sum payment at a specified point of time in the future.
C) a legal claim to a dividend, regardless of the corporation's ability to pay its interest payments.
D) a legal claim to a share of the company's future profits.
D
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A firm's total product curve shows
A) that inefficiency is not possible. B) how the cost of the fixed resources change when output changes. C) how the amount of output changes when the quantity of labor changes. D) that in the long run the firm must adjust the quantity of all the resources it employs.
Unique Creations has a monopoly position in magnometers. If the marginal cost for a magnometer is $50 and the price elasticity for magnometers is -4, what is the optimal monopoly price?
a. $37.50 b. $41.25 c. $66.67 d. $75.00 e. $82.50
Microeconomics is best described as the study of:
A. the choices made by individual households, firms, and governments. B. inflation, unemployment, gross national product, and the nation's economy as a whole. C. how markets interact in the aggregate economy. D. marginal changes in the economy.
The monetarists advocate increasing the money supply by about ______% a year.
Fill in the blank(s) with the appropriate word(s).