An advantage of the partnership form of business organization is
A) its limited liability.
B) its limited access to capital, thus reducing the possible size of debt.
C) the ability of its owners to specialize.
D) that it is difficult to start up, because a lot of thought has to go into the establishment of the firm.
C
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A scatter diagram with the price of peanut butter on the vertical axis and the price of jelly on the horizontal axis shows a negative relationship
If the price of jelly was placed on the vertical axis and the price of peanut butter was placed on the horizontal axis, the relationship would be a A) negative relationship, also called a direct relationship. B) negative relationship, also called an inverse relationship. C) positive relationship, also called a direct relationship. D) positive relationship, also called an inverse relationship.
In order to avoid problems involved with calculating percentage changes over a wide range, economists use the base or midpoint formula to calculate percentage changes when measuring the price elasticity of demand
a. True b. False Indicate whether the statement is true or false
Discretionary monetary policy is when the monetary authority:
a. does not commit to future monetary actions. b. never produces a monetary surprise to households. c. commits to future monetary actions. d. always behaves in a predictable way.
If two firms use a tit-for-tat scheme to maintain cartel pricing, and one firm chooses a low price in the current time period, then:
A. that firm will also choose a low price in the next time period. B. that firm will also choose a high price in the next time period. C. the other firm will choose a low price in the next time period. D. the other firm will choose a high price in the next time period.