A legal entity owned by individual stockholders:
a. cooperative
b. corporation
c. trade association
d. limited partnership
e. sole proprietorship
Ans: b. corporation
You might also like to view...
Use Figure 13.2 which depicts a monopolist firm to help with the following question. Define the area of total costs that this firm will incur if it is maximizing profit. Use the letters that appear on the graph to identify the area
What will be an ideal response?
If the U.S. dollar is pegged to gold, then
A) the Federal Reserve must adjust the supply of U.S. dollars when the price of gold changes. B) the government must buy and sell gold reserves when the price of the dollar changes. C) the U.S. dollar will not change in value since the price of gold is constant. D) the U.S. dollar would become more valuable than the Euro.
When the WTO met in Seattle to initiate a further move towards free international trade, thousands of activists met
A) in order to promote the WTO's goals of "Trade-not Aid." B) in order to laud the WTO policy orientation which would bust local monopolies and therefore help ordinary relatively poor consumers everywhere. C) in order to laud the WTO policy of disallowing government sweetheart deals, which typically meant that corrupt governments subsidized their in-laws' conglomerates on the backs of poor taxpayers. D) in order to support the WTO efforts of bringing about a universal shift of resources in poor countries to higher efficiency and productivity uses, which would raise the real incomes of everyone. E) in order to protest WTO free trade policies that they believed hurt workers.
Eric lost his job because a recession caused his employer's sales to fall. This is an example of:
a. involuntary unemployment. b. frictional unemployment. c. structural unemployment. d. cyclical unemployment.