Name two occupations that have the two characteristics required for the superstar phenomenon
Actors
Athletes
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According to the special interest theory, the licensing of beauticians would be
a. desired by consumers in order to promote the public interest b. desired by beauticians in order to promote the public interest c. discouraged by all beauty salons, large or small d. desired by some beauticians in order to restrict entry into their profession e. done strictly at the initiative of the government
Microeconomics is the branch of economics in which you study inflation and unemployment in the economy
a. True b. False Indicate whether the statement is true or false
When a binding price floor is imposed on a market, a. price no longer serves as a rationing device
b. the quantity demanded at the price floor exceeds the quantity that would have been demanded without the price floor. c. all sellers benefit. d. All of the above are correct.
Damian wants to start a business where he is the only owner and the company does not issue stock. The type of business Damian wants to start is a
A) sole proprietorship. B) partnership. C) corporation. D) Any of the above could be correct.