All of the following are differences between partnerships and corporations except
A) scale of ownershi
B
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According to the National Journal, the rise in two-career high-earning couples alongside the rise of ________________ accounts for roughly half of the rise in income inequality across households in recent decades.
a. single-parent households b. minimum-wage jobs c. workers being replaced by robots d. fewer young people attending college
The most efficient method of allocating scarce resources is through:
a. well-placed price controls on high-cost goods and services. b. utilization controls to ensure that demand does not exceed supply. c. competitive markets that allow supply and demand to interact freely to establish equilibrium prices. d. strictly followed budgets that keep spending under control. e. favorable tax treatment on those items that policy makers want to control.
Suppose that a foreign monopolist supplies the entire domestic market (there is no domestic production). The home country then applies a 5% tariff on imports from the foreign monopolist. How will the tariff affect the price in the home market?
a. It will increase by more than 5%. b. It will increase by 5%. c. It will increase by less than 5%. d. It will not change.
Price and total revenue move in the same direction when demand is
A. price inelastic. B. price elastic. C. unit price elastic. D. perfectly price elastic.