Which of the following is not an advantage of starting a new business as a proprietorship?
A) A proprietorship has few government rules and regulations to comply with.
B) The owner has complete control over the business.
C) Business profits are only taxed once, not twice.
D) A proprietorship can easily attain additional funding.
D
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Refer to Figure 5-15. The current market equilibrium output is partly the result of overfishing. In that case, what does S1 represent?
A) the social marginal cost of harvesting salmon B) the social marginal benefit of harvesting salmon C) the private marginal cost of harvesting salmon D) the private marginal benefit of harvesting salmon
If the Fed chooses to control the interest rate, it
a. gives up the opportunity of determining the discount rate b. loses control over the money supply c. gives up the opportunity of determining the legal reserve requirement d. gives up the opportunity of determining the federal funds rate e. gives up the opportunity of determining the level of investment
Which of the following would be considered an example of monetary policy?
A. Provision of additional cash to the banking system. B. A reduction in income tax rates. C. A broad government initiative to reduce the country's reliance on agriculture and promote high-technology industries. D. A decision by a developing country to reduce government control of the economy and to become more market-oriented.
Consider a Stackelberg duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi(Qi) = ciQi. Based on this information, the Stackelberg leader's marginal revenue function is:
A. MR(QF) = 100 ? QF - 0.5cF. B. MR(QL) = 50 ? 2QL - 0.5cF. C. MR(QL) = 50 ? 2QL - 0.5cL. D. MR(QF) = 100 ? 2QF - 0.5cF.