Which of the following best describes a stock rather than a flow?
a. Each week, you save $100
b. Each week, you buy $10 worth of gasoline.
c. Each week, you buy $50 worth of groceries
d. You earn $500 per week at your job.
e. You own $5,000 worth of government bonds.
e
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If a firm finds that, at its current level of employment, VMP > W, it will
A) be maximizing profits. B) be minimizing profits. C) increase the amount of labor it hires. D) decrease the amount of labor it hires.
Which of the following factors makes the success of economic integration more likely?
(a) Nationalism. (b) Desire for prestige projects. (c) Diverse economic systems. (d) All of the above. (e) None of the above.
(Requires Appendix material) Which of the following statements is correct?
A) TSS = ESS + SSR B) ESS = SSR + TSS C) ESS > TSS D) R2 = 1 - (ESS/TSS)
Which of the following is NOT an advantage of a proprietorship?
A) They are easy to form and dissolve. B) Decision-making resides with one person—the owner. C) Liability of the owner is unlimited. D) Profits are only taxed once.