The primary benefit that results when a nation employs its resources in accordance with the principle of comparative advantage is
a. an expansion in investment resulting from a reallocation of resources away from consumption.
b. a larger output resulting from a more efficient use of resources.
c. greater equality of income resulting from an increase in the number of workers.
d. an increase in the profitability of business enterprises resulting from an increase in investment.
B
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When the percentage change in the quantity supplied is less than the percentage change in price, the supply is
A) elastic. B) inelastic. C) unit elastic. D) perfectly unit elastic. E) perfectly elastic.
Accountants keep track of the money that flows into and out of firms
a. True b. False Indicate whether the statement is true or false
The majority of business revenues earned in the United States are earned by
A) proprietorships. B) corporations. C) partnerships. D) cooperatives.
The Required Reserve Ratio