Any form of wealth held by a sole proprietor will be factored into the terms of the loans she receives because:
a. her liability is limited.
b. her business is inseparable from her.
c. her business is too small to bear investment risks.
d. her investment decisions depend on her total output.
B
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Suppose that the quantity of root beer demanded declines from 103,000 gallons per week to 97,000 gallons per week as a consequence of a 10 percent increase in the price of root beer. The price elasticity of demand is
A) 0.60. B) 1.40. C) 1.66. D) 6.00.
Government savings, , is equal to
A) T - G. B) T + G. C) T = G. D) T + G - I. E) T - G = I.
The unemployment rate will increase whenever there is a(n):
a. increase in the number of persons classified as unemployed. b. increase in the number of unemployed persons relative to the size of the labor force. c. increase in the size of the U.S. population and there is no change in the number of persons classified as employed. d. reduction in the size of the labor force. e. reduction in the size of the civilian labor force while the number of unemployed decreases.
Suppose your firm is operating in a perfectly competitive market, and that the minimum average variable cost of producing your good is $13. If the price of the good is $15, your firm should:
A. supply the amount of the good where the marginal cost of production is equal to $15. B. not produce anything since the price is above the minimum of average variable cost. C. not consider price when determining the amount to sell. D. not do any of these.