Proprietors' income includes all of the following except
a. the income of unincorporated businesses.
b. the income of partnerships.
c. the income of sole proprietorships.
d. the income of all businesses - incorporated and unincorporated .
Ans: d. the income of all businesses - incorporated and unincorporated .
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Why do booms and recessions tend to be transmitted across national borders?
If a person is risk averse, then she has
a. diminishing marginal utility of wealth, implying that her utility function gets flatter as wealth increases. b. diminishing marginal utility of wealth, implying that her utility function gets steeper as wealth increases. c. increasing marginal utility of wealth, implying that her utility function gets flatter as wealth increases. d. increasing marginal utility of wealth, implying that her utility function gets steeper as wealth increases.
Demand is more inelastic for an item which is a luxury as compared to an item which is a necessity.
Answer the following statement true (T) or false (F)
The real business cycle model replicates the key business cycle regularities
A) both qualitatively and quantitatively. B) qualitatively but not quantitatively. C) quantitatively but not qualitatively. D) neither qualitatively nor quantitatively.