The most likely source of investment funds for a proprietorship is
A. sales of bonds.
B. sales of stocks.
C. the personal funds of the owner.
D. loans from banks.
Answer: C
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Which of the following was an objective of the framers of the Federal Reserve System?
A) Decentralized power B) Executive branch power C) Elimination of private-sector influence D) Consolidation of the banking industry
President Franklin D. Roosevelt's first action regarding the run on banks was to
(a) close all banks. (b) increase the money supply. (c) prohibit bank foreclosures. (d) provide federal guarantees to depositors.
Collusion is:
A. the act of firms working together to make decisions about price and quantity. B. buyers acting in unison against a company in efforts to change its practices. C. the act of firms undercutting one another in competition until zero profits are earned. D. None of these statements is true.
The increase in the demand for widgets, shown in the figure above, is the result of an increase in people's incomes from $28,500 per year to $31,500 per year. Therefore, the income elasticity of demand for widgets is
A) 0.25. B) 0.75. C) 1.33. D) 4.00.