Government decisions about the level of taxation and public spending are called:
A. fiscal policy.
B. monetary policy.
C. congressional policy.
D. legislative budgeting policy.
A. fiscal policy.
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The first automobile manufacturer to use a division of labor and to use a moving assembly line was
A. Henry Ford. B. Henry Leland. C. Henry Olds. D. Andrew Carnegie.
During the decade of the 1920s, the U.S. economy
(a) was generally healthy and gave no indication of the troubles that lay ahead regarding the Great Depression. (b) was relatively stagnant in terms of growth of total output with small declines in agriculture and housing, which suggested that difficult times might lie ahead in the 1930s. (c) experienced actual declines in overall production levels, including agriculture and housing, which suggested that even more difficult times probably lay ahead. (d) experienced relatively rapid growth in overall output but in the late 1920s nevertheless showed weaknesses in certain sectors such as agriculture, housing and the financial sector, which suggested the possibility of difficult times ahead.
When the market price is set above the equilibrium price:
A. the market is not efficient. B. total surplus is not maximized. C. consumer surplus is decreased. D. All of these are true.
_____ is a property which distinguishes corporations from proprietorships and partnerships
a. Unlimited liability b. Division of labor c. Separation of ownership and management d. Centralized management and control