What type of business is the easiest to set up?
A) corporation
B) sole proprietorship
C) partnership
D) There is no difference in the ease of establishment.
B
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Under a fixed exchange standard, if the domestic demand for foreign exchange increases
A) the central monetary authority must meet the demand out of its reserves. B) the central monetary authority must increase the supply of domestic money. C) the fixed exchange standard will breakdown. D) inflation will increase. E) the domestic currency must be depreciated.
Suppose real output falls in the aggregate economy. Which is correct?
A) A real business cycle theorist thinks that there was a negative shock to total factor productivity, and that the government should therefore increase expenditures. B) A New Keynesian thinks that the output gap has fallen, and central bank's interest rate target should rise. C) A real business cycle theorist thinks that total factor productivity has risen, and that the government should do nothing . D) none of the above.
Which of the following is NOT a way to express the formula for profit?
A. Profit = Revenue - Cost B. ? = R(Q) - C(Q) C. ? = [P(Q) × Q] - [C(Q) × Q] D. ? = [P(Q) × Q] - C(Q)
If opportunity costs are ________, the production possibilities frontier would be graphed as a negatively sloped straight line
A) decreasing B) increasing C) negative D) constant