Price always tends toward its ______________ level.
Fill in the blank(s) with the appropriate word(s).
equilibrium
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A legal organization of a firm where the business is owned by one individual who makes the business decisions, receives all the profits, and is legally responsible for the debts of the firm is a(n)
A) corporation. B) entrepreneur. C) proprietorship. D) partnership.
A special-interest issue is one that
a. allocates the cost of the activity in accordance with the benefits received. b. benefits a small, well-organized interest group at the expense of taxpayers or consumers. c. benefits everyone and imposes a cost on everyone. d. benefits a small, well-organized interest group but makes that group pay for the cost of the program.
An investment carrying a current cost of $120,000 is going to generate $50,000 of revenue for each of the next three years. To calculate the internal rate of return we need to:
A. find the interest rate at which the present value of $150,000 for three years from now equals $120,000. B. find the interest rate at which the sum of the present values of $50,000 for each of the next three years equals $120,000. C. calculate the present value of each of the $50,000 payments and multiply these and set this equal to $120,000. D. subtract $120,000 from $150,000 and set this difference equal to the interest rate.
If the multiplier is 4, a $15 billion increase in government expenditures will shift the AD curve to the:
A. right by $15 billion. B. left by $60 billion. C. left by $15 billion. D. right by $60 billion.