In the long run,
a. a larger budget deficit means a larger money supply
b. lower investment spending means slower growth of the standard of living
c. a larger budget deficit means lower consumption spending
d. a larger budget surplus means a smaller capital stock
e. government spending has no effect on the budget deficit or surplus
B
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For a monopoly, when the price effect outweighs the quantity effect of increased production:
A. the demand must be price inelastic. B. marginal revenue must be increasing. C. total revenues will increase. D. All of these statements are true.
For what kinds of goods are buyers most likely to seek additional information about quality?
What will be an ideal response?
When a worker's nominal wage is indexed, the nominal wage is usually automatically adjusted based on movements in which of the following variables?
A) productivity B) the price of the firm's product C) the average wage in the country D) the average wage in the industry E) none of the above
All of the following are characteristics of a proprietorship EXCEPT
A. the firm can form a corporation to protect itself against the debts. B. one person is responsible for all the debts of the firm. C. the business is owned by one individual. D. one person gets all of the profits.