Scarcity raises both price and marginal utility but generally reduces total utility
a. True
b. False
Indicate whether the statement is true or false
True
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Owners face unlimited liability in
A) national corporations and global corporations. B) partnerships and corporations. C) proprietorships and corporations. D) proprietorships and partnerships.
The largest single source of revenue for the federal government is the
A. corporate income tax. B. federal excise tax. C. personal income tax. D. Social Security tax.
Unions have the power to
A. set all working rules. B. increase the firm’s total taxes. C. push wages above competitive levels at times. D. make a firm nationalized.
When real output increases, planned aggregate expenditures increase because:
A. induced expenditures increase. B. autonomous expenditures increase. C. induced expenditures decrease. D. autonomous expenditures decrease.