Of the types of business organizations in the United States, corporations account for ________ percentage of revenues and ________ percentage of profits
A) the smallest; the largest
B) largest; neither the largest nor smallest
C) neither the largest nor smallest; the largest
D) the largest; the largest
Answer: D
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Refer to the following graph. The principle of diminishing returns is illustrated by the
a. upward sloping portion of the MP curve.
b. downward sloping portion of the MP curve.
c. upward sloping portion of the AP curve.
d. downward sloping portion of the AP curve.
If a firm’s activities generate detrimental externalities, the marginal social cost will be less than the marginal private cost.
Answer the following statement true (T) or false (F)
In the simple Keynesian model, there are three simplifying assumptions. One of these assumptions is:
A) no consumption B) no investment C) no exports or imports D) a and b E) a, b, and c
Which of the following would not be included in the government consumption expenditures and gross investment (G) category of GDP?
A. The payments made to Social Security recipients. B. The expenditures made to repair a highway. C. The spending for professors at state universities. D. The purchase of new china for White House functions.