In the U.S. economy, sole proprietorships account for over half the firms, but corporations account for over half of total sales revenue.
Answer the following statement true (T) or false (F)
True
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Which of the following is most important for the successful functioning of any economy?
A) Clearly understood and generally accepted rules. B) Common and reasonably specific goals for people to pursue. C) Greed. D) Low taxes relative to income. E) Sufficient purchasing power to buy all of an economy's goods and services.
As the time to respond to a change in market conditions increases, the odds of demand being elastic: a. Increase
b. Decrease. c. Stay the same. d. Cannot be determined.
According to Figure 9.1, saving equals zero at an income level of
A. $2,000 billion. B. $0. C. $1,000 billion. D. $500 billion.
U.S. paper currency is considered representative commodity money because it can be redeemed for gold by the U.S. government
Indicate whether the statement is true or false