Monitoring the performance of the people managing the firm is easiest in the case of
A. proprietorships.
B. partnerships.
C. S corporations.
D. corporations.
Answer: A
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An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221If there were 200 sellers in the market, each with a supply schedule identical to seller 3 in the table above, then the weekly quantity of hamburgers supplied in the market at a price of $4 would be
A. 600. B. 400. C. 800. D. 200.
The potential rewards that are available to an individual if a particular activity is undertaken are known as
A) premiums. B) gifts. C) incentives. D) intrinsic values.
The opportunity cost to you of an action is
A. how much you must pay for the opportunity to take the action. B. the value to you of the next best action you could have taken. C. the cost to society of giving you the opportunity to take the action. D. the dollar cost to you of the action.