Which of the following is NOT a legal organization of a firm?
A. proprietorship
B. entrepreneurship
C. corporation
D. partnership
Answer: B
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The welfare effects of quotas depend, to some extent, on who has the right to import the quota restricted goods
Indicate whether the statement is true or false
The German central bank gained international reserves in the early 1970s because it sold ________ to prevent mark ________
A) marks; appreciation B) dollars; appreciation C) marks; depreciation D) dollars; depreciation
For firms that sell one product in a perfectly competitive market, marginal revenue is:
A. the additional revenue gained from selling one more unit. B. equal to average revenue. C. equal to market price. D. All of these are true.
Which of the following is a normative macroeconomic statement?
a. An increase in government spending will reduce unemployment. b. An active government policy should be employed to maintain a healthy economy. c. The unemployment rate is 10 percent. d. There is a positive relationship between inflation and the rate of growth of money e. Gross domestic product grew 3 percent this year.