Define a partnership
What will be an ideal response?
A partnership is a firm owned jointly by two or more persons and is not organized as a corporation.
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If the Fed were to raise the required reserve ratio,
A) excess reserves would decrease. B) excess reserves would increase. C) there would be no effect on the level of excess reserves. D) there would tend to be no effect on the nation's money supply.
There is virtual consensus on the part of channel analysts that the sociocultural environment.
Comparing developed and developing nations in their use of tariffs, we see that
A) the developing nations' governments get very little revenue from tariffs. B) both governments get large amounts of revenue from tariffs. C) many developing nations' governments get a large portion of their revenue from tariffs. D) developing nations almost never impose tariffs because they want their people to obtain goods and services at the lowest possible price. E) developed nations rely much more than developing nations on tariff revenue.
A long-run ATC curve shows:
A. the minimum average total cost possible for every possible size firm across an industry. B. which size firm can capture the lowest costs per unit for an industry. C. what size firms can capture economies of scale by expanding. D. All of these are true.