When a reward might not occur, economists incorporate the uncertainty by multiplying the reward by a:
A) positive factor more than 1.
B) positive factor less than 1.
C) negative factor more than -1.
D) negative factor less than -1.
B
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An outside lag is
A) a policy aimed at increasing GDP. B) a policy aimed at reducing GDP. C) a lag in implementing policy. D) the period of time it takes for policies to work.
What type of relationship has probably been formed if two or more parties agree to combine their efforts for a single business transaction?
According to the quantity equation, if M increases by 3 per cent and V increases by 2 per cent, then:
A. real income increases by approximately 5 per cent. B. the price level increases by approximately 5 per cent. C. the nominal interest rate increases by approximately 5 per cent. D. nominal income increases by approximately 5 per cent.
The owner of a sole proprietorship has
a. unlimited liability: if the firm goes bankrupt, the owner is liable for all debts. b. unlimited liability: if the firm goes bankrupt, the owner is liable for the amount of the investment. c. limited liability: if the firm goes bankrupt, the owner does not have to pay. d. unlimited liability: if the firm goes bankrupt, the owner is liable for the amount of the fixed assets only.