Other things equal, which of the following would increase the rate of economic growth, as measured by changes in real GDP?
A. A decline in the average length of the workweek.
B. A decrease in the labor force participation rate.
C. An increase in the size of the working age population.
D. A decline in the amount of capital per worker.
C. An increase in the size of the working age population.
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Franchising mitigates:
A. the hold-up problem. B. the principal-agent problem. C. opportunism. D. relationship-specific investment.
One principal advantage of the corporations is that owners:
A. are sole proprietors. B. are not taxed for income received. C. have limited liability. D. always control the company.
The elasticity of supply equals ________ if the supply curve is horizontal
A) 0 B) 1 C) infinity D) -1
The larger the number of firms in an industry
A) the more intense the rivalry among firms. B) the larger the potential number of market segments. C) the easier it is to implicitly collude to fix prices. D) the greater the need for a price enforcement mechanism.