A corporation uses __________ as its Federal Tax ID number.
a. the owner's social security number
b. an EIN number
c. business operating license number
d. none of these
Answer: b. an EIN number
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To maintain a monopoly, a firm must have
A) an insurmountable barrier to entry. B) a perfectly inelastic demand. C) few competitors. D) marginal revenue equal to demand.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and current international transactions in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and current international transactions become more positive (or less negative). b. The real risk-free interest rate rises, and current international transactions become more negative (or less positive). c. The real risk-free interest rate falls, and current international transactions remain the same. d. The real risk-free interest rate rises, and current international transactions remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Joey's Lawncutting Service rents office space from Joey's dad for $300 per month. Joey's dad is thinking of increasing the rent to $400 per month. As a result Joey's marginal cost of cutting grass will
A) increase by $100 divided by the amount of grass cut. B) increase by $100. C) decrease by $100. D) not change.
For a previously-legal good, criminalization will cause
A. demand to become more elastic. B. price to fall, unambiguously. C. demand to increase. D. supply to become less elastic.