What do bonds represent?
A. Shares of ownership in a corporation and a guaranteed stream of profits
B. Shares of ownership in a corporation and an entitlement to its future profits
C. Debt contracts with corporations or governments, and regular interest payments on the loan
D. Debt contracts with corporations or governments, and some unspecified interest payments on the loan
C. Debt contracts with corporations or governments, and regular interest payments on the loan
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Complete the following analogy: A criminal is to a police artist's sketch as the economy is to
a. money b. an economic model c. a resource d. ceteris paribus e. scarcity
Refer to the figure. Suppose the graphs represent the demand for use of a local golf course for which there is no significant competition (it has a local monopoly); P denotes the price of a round of golf; Q is the quantity of rounds "sold" each day. If the left graph represents the demand during weekdays and the right graph the weekend demand, this profit-maximizing golf course should:
A. charge $9 for each round, regardless of the day of the week.
B. charge $7 for each round, regardless of the day of the week.
C. charge $7 for each round on weekdays and $10 during the weekend.
D. charge $9 for each round on weekdays and $10 during the weekend.