How can a partnership raise funds needed for firm expansion?
What will be an ideal response?
By retaining earnings, taking on additional partners, or borrowing from relatives, friends, or a bank.
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Today, the United States is a
I. net borrower. II. net lender. III. debtor nation. IV. creditor nation. A) I and IV B) II and IV C) I and III D) II and III
Scarcity is the result of:
a. government decision making b. inappropriate normative judgments. c. positive economics. d. wants that exceed the resources necessary to provide them.
According to classical economics:
a. real GDP is determined by aggregate demand, while the equilibrium price level is determined by aggregate supply. b. both real GDP and price level are determined by aggregate demand. c. both real GDP and price level are determined by aggregate supply. d. real GDP is determined by aggregate supply, while the equilibrium price level is determined by aggregate demand. e. price level cannot be changed as prices and wages are perfectly rigid.
If consumer tastes shift away from mustard and toward salsa, then the
a. demand curve for salsa will shift to the left b. demand curve for mustard will shift to the right c. quantity demanded of salsa will decrease d. quantity demanded of mustard will increase e. demand curve for salsa will shift to the right