Inside information
A. applies to proprietorships and partnerships only.
B. applies to all forms of business.
C. applies to proprietorships only.
D. applies to corporations only.
Answer: D
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A trade-off refers to
A) sacrificing one thing for another. B) deciding who consumes the products produced in an economy. C) allowing the government and other organizations to choose for us. D) holding other variables fixed.
The figure above shows a production possibilities frontier. In the figure, which of the following combinations of the two goods cannot be produced with the current resources and technology?
A) 5 million cell phones and no DVDs B) 1 million cell phones and 14 million DVDs C) 4 million cell phones and 4 million DVDs D) 3 million cell phones and 5 million DVDs E) 2 million cell phones and 13 million DVDs
A perfectly competitive firm spends a significant part of its revenue on advertisements, and tries to sell more by reducing its price below the market price
a. True b. False Indicate whether the statement is true or false
Of the following countries, which has the lowest level of income inequality?
A. Slovenia B. Mexico C. Japan D. Greece