The person hired by a corporation's board of directors to ________ is known as the chief executive officer
A) chair the board of directors
B) run the day-to-day operations of the corporation
C) hire additional members for the board of directors
D) audit the financial records of the corporation
B
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To eliminate a recessionary gap, the expenditure schedule should be
a. shifted downward. b. shifted upward. c. made steeper. d. made flatter.
Suppose the state of Wyoming passes a law that increases the tax on cigarettes. As a result, smokers who live in Wyoming start purchasing their cigarettes in surrounding states. Which of the following principles does this best illustrate?
a. People respond to incentives. b. Rational people think at the margin. c. Trade can make everyone better off. d. Markets are usually a good way to organize economic activity.