The Theories of Consumption Were Developed by

question 22

Multiple Choice

The theories of consumption were developed by

• A)Friedman and Phelps.
• B)Hicks and Hansen.
• C)Modigliani and Friedman.
• D)Lucas and Sargent.

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Definitions:

Wholly Owned Subsidiaries

Companies fully controlled by another company, the parent company, because the parent company owns 100% of the subsidiary's shares.

Research and Development

A systematic activity combining both basic and applied research, and aimed at discovering solutions to problems or creating new goods and knowledge.

Rule of Reason

A doctrine developed by the United States Supreme Court in antitrust litigation, which states that not all actions deemed to restrain trade are automatically illegal, but must be evaluated on a case-by-case basis.

Joint Ventures

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity, with profits and losses shared among them.