In the United States, what percentage of businesses are sole proprietorships?
a. 10%
b. 25%
c. 50%
d. 75%
Answer: d. 75%
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The Bureau of Labor Statistics does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labor force participation rate would change
What will be an ideal response?
Refer to Figure 7-3. What is the value of the deadweight loss as a result of the quota?
A) $5.25 million B) $8 million C) $17.25 million D) $20 million
Suppose the supply of chocolate chips in Paulina is perfectly elastic and the government imposes a tax on the sellers. Which of the following is most likely to be true? a. The deadweight loss of the tax equals zero
b. The supply curve is a vertical line. c. The elasticity of supply equals zero. d. The tax burden is shared equally between the buyers and the sellers.
What happens as the interest rate rises?
A. Planned investment spending also rises. B. The opportunity cost of using retained earnings to finance investment spending rises. C. Planned investment spending remains constant since it depends on profit projections not interest rates. D. The number of profitable investment opportunities declines.