The majority of business revenues earned in the United States are earned by
A. proprietorships.
B. cooperatives.
C. partnerships.
D. corporations.
Answer: D
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In the long run, under conditions of perfect competition, market forces come into play to
a. enhance profits. b. increase demand. c. eliminate profits. d. separate MR and AR.
In a situation of mutual interdependence and identical products, managers of oligopolistic firms ________ attempt to differentiate their product to earn ________ economic profit.
A) should; positive B) should not; positive C) should; negative D) should; zero
The United States funds its unemployment compensation system by taxing
A. older, larger firms at a higher rate than younger, smaller firms. B. firms more when they have a history of causing more layoffs, up to a point. C. all firms at the same rate. D. firms more when they have greater profits so that they can afford the additional taxes. E. nonunion firms more than union firms because union firms pay higher wages on average.
Which of the following is not an in-kind subsidy?
A. unemployment compensation B. low-cost rental housing C. Medicare D. Medicaid