From the highest percentage to the lowest percentage, the number of firms by business type in the United States is represented by which of the following?
A) corporations, sole proprietorships, partnerships B) corporations, partnerships, sole proprietorships
C) sole proprietorships, partnerships, corporations D) sole proprietorships, corporations, partnerships
D
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The primary function of the reserve requirements imposed by the Fed upon commercial banks is to
A) assure that Federal Reserve Banks will receive deposits with which they can purchase income-earning assets. B) enable the government to borrow in emergencies. C) protect the liquidity of the banking and monetary system. D) protect the solvency of the commercial banking system. E) serve as a control lever for central banking authorities.
The following table depicts the production relationship between units of labor and output of pepper on Pietrov’s Pepper Farm. Labor Peppers Labor Peppers 1 10 6 75 2 25 7 77 3 45 8 78 4 60 9 77 5 70 10 75 Graphically show the three zones of production corresponding to increasing, decreasing, and negative marginal product, noting the point of diminishing returns.
What will be an ideal response?
Marginal factor cost (MFC) is the same as the wage rate for a monopsonist
a. True b. False Indicate whether the statement is true or false
If Ana devotes all her time to making fudge, she can make 3 pounds of fudge an hour, and if she devotes all her time to making toffee, she can make 2 pounds of toffee an hour. If Leo devotes all his time to making fudge, he can make 4 pounds of fudge an hour, and if he devotes all his time to making toffee, he can make 5 pounds of toffee an hour. Suppose that Ana and Leo decide to work together as a team. Can they produce 2 pounds of fudge and 4.5 pounds of toffee each hour?
A. No, this point is not attainable. B. Yes, this point is both attainable and efficient. C. No, this point is not attainable and inefficient. D. Yes, this point is attainable, but inefficient.