Most American firms are corporations
a. True
b. False
Indicate whether the statement is true or false
False
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If the federal budget has an actual budget deficit of $100 billion and a cyclically adjusted budget deficit of $75 billion, then the economy
A) must be at potential real GDP. B) must be above potential real GDP. C) could be below or above potential real GDP. D) must be below potential real GDP.
The optimal number of units to produce is best expressed when
A. marginal benefit exceeds marginal cost. B. marginal cost exceeds marginal benefit. C. marginal benefit and marginal cost are close to equal. D. marginal benefit and marginal cost are equal to zero.
Which of the following does not increase a McDonald's franchisee's financial stake in the success of the operation?
a. Successful owners may get additional restaurants b. The franchise is valid for 20 years and renewable after that c. The franchisee can safely ignore the company's standards of quality, pricing, cleanliness, hours of operation, and so on d. The franchisee must make highly specific investments of money and time e. The franchisee must have "non-borrowed personal resources" of at least $200,000 in cash
In this graph of choice set, price change causes the slope of budget lines to change
Indicate whether this statement is true or false