Which type of businesses earns the majority of revenues in the United States?
A) partnerships B) corporations
C) sole proprietorships D) none of these
B
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The principle of minimum differentiation
A) results in political parties proposing very similar or possibly identical policies. B) refers to the tendency of competitors to make themselves different in order appeal to the maximum number of clients or voters. C) explains why Burger King, Wendy's, and other fast food restaurants tend to locate far away from each other. D) None of the above answers are correct.
A Lorenz curve that is perfectly straight indicates
A) that society is very rich. B) that a small portion of the population accounts for most of the income. C) that a large portion of the population accounts for most of the income. D) complete income equality.
If the economy were left on its own without the interference of government or the Fed, it would move toward an equilibrium rate of growth that would produce, with only minor interruptions, full employment without inflation. What school supports this view?
a. classical b. Keynesian c. monetarism d. supply-side e. neo-Keynesian
Points that lie inside (or below) the PPF are
A) unattainable. B) attainable and productive efficient. C) attainable but productive inefficient. D) attainable and neither productive efficient nor productive inefficient.