The most prevalent form of business enterprise in the U.S. is the
a. sole proprietorship.
b. partnership.
c. corporation.
d. cooperative.
a. sole proprietorship.
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The homoskedastic normal regression assumptions are all of the following with the exception of:
A) the errors are homoskedastic. B) the errors are normally distributed. C) there are no outliers. D) there are at least 10 observations.
Suppose France can produce 9,000 potatoes or 3,000 lemons per day, and that Italy can produce 3,000 potatoes or 3,000 lemons per day. Which of the following statements in this context is true?
a. France has an absolute advantage in producing lemons. b. Italy has a comparative advantage in producing potatoes. c. Italy would be willing to trade one lemon for anything greater than one potato. d. Both countries would be willing to trade at a rate of one lemon for one potato. e. France has a comparative advantage in producing lemons.
In building economic models, economists often omit
a. assumptions. b. theories. c. details. d. equations.
Which of the following is the best analogy? Inflation is like:
A. a mile having more feet. B. a day having more hours. C. a minute having fewer seconds. D. a pound having more ounces.