A 'Quorum' Is

question 38

Multiple Choice

A 'quorum' is:

• A)The minimum number of voting members required to attend a meeting for it to be constitutionally valid.
• B)The forum for a meeting of shareholders of a particular class.
• C)The exact number of voting members required to attend a meeting for it to be constitutionally valid.
• D)A representative of someone unable to attend a meeting personally and entitled to vote on their behalf.

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Definitions:

Elastic

A characteristic of a product or service indicating that a change in price leads to a significant change in the quantity demanded or supplied.

Laffer Curve

An illustration of the relationship between tax rates and tax revenue, suggesting that there is an optimal tax rate that maximizes revenue.

Tax Rate Reductions

A decrease in the percentage at which income or transactions are taxed by governmental authorities.

Price Inelastic

A situation where the demand for a good or service remains relatively unchanged despite changes in its price.