Sole Proprietorships use __________ as its Federal Tax ID number.
a. the owner's social security number
b. an EIN number
c. business operating license number
d. none of these
a. the owner's social security number
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When market trades in water occur, we can assume that
a. the party releasing water is the loser. b. the party buying water is paying too much. c. the trade in something as important as water is immoral. d. the signals and incentives flowing from the trades help many in that water market, not just the buyer and seller directly.
Economists who identify a goal and then design a mechanism to achieve that goal are engaging in:
A. choice architecture. B. laissez-faire policies. C. setting money prices. D. mechanism design.
Referring to Figure 18.3, an appreciation of the dollar is represented by a movement from point:
A. a to d. B. c to d. C. a to c. D. b to c.
As compared to the basic Nash-Cournot equilibrium for duopolists where the firms face the same market demand curve and have identical costs, in the situation where the firms produce products which are viewed by consumers as not being identical,
A) there will generally be different prices charged by the two firms. B) there will generally be different quantities produced by the two firms. C) one or both of the firms may practice spurious differentiation. D) All of the above.