A share of stock is a
A) certificate of ownership and claim to the profits made by a firm.
B) collection of funds that travels the world looking for the highest return.
C) form of investment in physical capital.
D) set of demanders and suppliers for the savings of households.
E) promise to pay specified sums of money on specified dates.
A
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Discretionary fiscal policy is a fiscal policy action, such as
A) a decrease in tax receipts, initiated by the state of the economy. B) an increase in payments to the unemployed, initiated by the state of the economy. C) an interest rate cut, initiated by an act of Congress. D) an increase in the quantity of money. E) a tax cut, initiated by an act of Congress.
A firm finds that it can produce several different goods at a lower average cost by using some of the same production facilities than it could if it produced each of the goods with separate production facilities. This firm is
A) gaining economies of scope. B) gaining economies of team production. C) gaining economies of scale. D) incurring diseconomies of scale.