Who controls a partnership?
A) bondholders B) the owners C) stockholders D) employees
B
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A normal good is a good for which the demanded decreases as income decreases, holding everything else constant
Indicate whether the statement is true or false
Which of the following questions would not be studied by a microeconomist but would be studied by a macroeconomist?
a. Why do national economies grow? b. What percentage of consumer income is spent on entertainment? c. Why do workers prefer the 4-day workweek? d. How is the electric industry harmed by the passage of new clean air legislation?
The price index was 150 in the first year, 160 in the second year, and 165 in the third year. Which of the following statements is correct?
a. The price level was higher in the second year than in the first year, and it was higher in the third year than in the second year. b. The inflation rate was positive between the first and second years, and it was positive between the second and third years. c. The inflation rate was lower between the second and third years than it was between the first and second years. d. All of the above are correct.
If U.S. buyers purchased $500 billion of foreign goods and foreign buyers purchased $400 billion of U.S. goods, the U.S. balance of trade would be:
A. ?$100 billion. B. $100 billion. C. $400 billion. D. -$500 billion.