China is the only country that runs large trade surpluses

When the price of apples is $3 per bushel, and the quantity demanded is 1,000 bushels,

A) consumers need 1,000 bushels. B) consumers plan to purchase a total of 1,000 bushels. C) both A and B are true. D) none of the above is true.

Traditionally, Wall Street investment banks had been organized as partnerships, but by 2000 they had converted to being publicly traded corporations

As partnerships, the principle-agent problem is ________, but as publicly traded corporations, the principal-agent problem is often ________. A) reduced; less severe B) increased; more severe C) increased; less severe D) reduced; more severe