One advantage of preferred stock over common stock is that preferred stockholders a. have the right to vote for the board of directors. b. are entitled to a fixed dividend. c. participate in managing the company. d. get a cheaper price on stock.

Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. now consider the following statement: “through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus ‘move outside its production possibilities curve.’”