The three basic legal forms of business enterprise in the United States are
A. vertical, horizontal, and conglomerate corporations.
B. monopolies, enterprises, and competitors.
C. national, global, and multinational corporations.
D. proprietorships, partnerships, and corporations.
Answer: D
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According to new growth theory, firms accumulate the efficient level of both physical and knowledge capital
Indicate whether the statement is true or false
The multiplier is defined as the ratio of a change in income to the
A) marginal propensity to save. B) marginal propensity to consume. C) change in the marginal propensity to consume causing it. D) change in the marginal propensity to save causing it. E) change in planned autonomous spending causing it.
Most of the key decisions of the Federal Reserve are actually made by its Federal Open Market Committee
a. True b. False Indicate whether the statement is true or false
An economic model
a. uses equations to understand normative economic phenomena b. often omits crucial elements c. simplifies reality in order to focus on crucial elements d. tries to make simple concepts more complex e. cannot be proven wrong