Which point represents the highest price level?
a. A
b. B
c. C
d. Y
c. C
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Which of the following is an advantage that a sole proprietorship has over all other types of firms?
a. unlimited liability b. easy access to capital markets c. all decision making belongs to the owner d. shared liabilities e. small scale of operation
In terms of purchasing power, the real minimum wage has ________ since 1997.
A. fallen B. stayed the same C. risen
Studies have concluded that NAFTA caused ________ in economic welfare to Canada.
a. a gain b. a loss c. no change d. first a gain, then a loss
The public debt is the:
a. Difference between current government expenditures and revenues b. Total of all past deficits minus all past surpluses c. Ratio of all past deficits to all past surpluses d. Amount of U.S. paper currency in circulation