A household that spends more than it receives in income during a given period is
A. saving.
B. receiving transfer payments.
C. running a deficit.
D. dissaving.
Answer: D
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Which of the following is an advantage of starting a new business as a partnership?
A) Business profits are not taxed. B) A partnership has few government rules and regulations to comply with. C) The owners have limited personal liability. D) A partnership can easily attain additional funding.
When a country adds more capital to its existing stock:
A. it experiences rapidly increasing rates of growth. B. the additional productivity is less than the previous increases to productivity. C. it experiences rapid declines in its level of income. D. the additional productivity is more than the previous increases to productivity.
The first act to declare monopolies illegal in the United States was the
a. Sherman Antitrust Act. b. Clayton Act. c. Federal Trade Commission Act. d. Robinson-Patman Act.
To earn the greatest possible profit, a firm must:
A. maximize revenue less cost. B. minimize revenue less cost. C. maximize quantity at any price. D. maximize price at any quantity.