Proprietorships are
A. easy to form but difficult to dissolve.
B. responsible for most of the profits in the country.
C. generally large relative to other business organizations.
D. the most common form of business organization in the country.
Answer: D
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A nation should specialize in the good for which it has an absolute advantage
Indicate whether the statement is true or false
In a Cournot oligopoly, a decrease in a firm's marginal cost leads to:
A. reduced output and a lower price. B. higher output and a higher price. C. higher output and a lower price. D. reduced output and a higher price.
A country with a fixed exchange rate experiences upward pressure on the exchange rate value of its currency. The central bank chooses to intervene in the market to maintain its fixed exchange rate. How would the central bank go about intervening? If the upward pressure on the currency persists, would it be difficult to maintain the fixed exchange rate? Why or why not? Would your answers differ if the country carried out sterilized intervention? Why or why not? Give an example of a country that attempted to maintain its exchange rate in the face of upward pressure on its currency value. What was the result?
What will be an ideal response?
At market equilibrium
A) demand equals supply. B) quantity demanded equals quantity supplied. C) surpluses are greater than shortages. D) shortages are greater than surpluses.