Most of the income received by families and individuals in the United States arises from the ownership of
A) capabilities embodied in human beings.
B) corporations.
C) industrial, commercial, and residential real estate.
D) stocks, bonds, and other financial instruments.
E) transnational business enterprises.
A
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
It would be impossible for members of the fast-food industry to collude to fix prices because
A) there are too many fast-food firms in the market. B) collusion is illegal. C) there are not enough fast-food firms in the market. D) the price of fast-food is too low. E) demanders would not buy from firms that collude.
If an industry supply curve increases while the industry demand curve remains the same, then an individual firm in a perfectly competitive industry currently earning positive profits will see its profits _________.
A) increase B) not change C) decrease D) impossible to determine
In October 2008, __________ percent of the unemployed workers in the United States were collecting unemployment benefits.
A. 32 B. 38 C. 46 D. 64