Which form of business is also known as a closely held? corporation?
A. Master limited partnership
B. Private corporation
C. Public corporation
D. Sole proprietorship
E. Limited liability partnership
B. Private corporation
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
If price rises, what happens to supply of a product?
a. It increases. b. It decreases. c. It does not change. d. Uncertain--economic theory has no answer to this question.
Who said, "It is not the employer who pays wages; he only handles the money. It is the product that pays wages."
A. Henry Ford B. Karl Marx C. Jackson Martindell D. Studs Terkel
Financing expansionary fiscal policy by increasing the deficit does not generally affect interest rates.
Answer the following statement true (T) or false (F)