What percentage of American business firms are incorporated?
A. About 20 percent
B. About 40 percent
C. About 50 percent
D. Over 60 percent
Answer: A
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Suppose there are two goods: guns and roses. Also suppose Australia is initially closed to trade. When international trade is opened, Australia chooses to sell guns and buy roses in the world markets.
(i) Which is higher, Australia's autarkic relative price of guns or the world relative price of roses? (ii) If the world relative price of guns falls, will Australia be better off or worse off? What if the world relative price of guns rises? Explain.
How does a decrease in the federal budget deficit affect the demand for dollars and the supply of dollars on the foreign exchange market?
A) The demand for dollars falls, and the supply of dollars falls. B) The demand for dollars rises, and the supply of dollars falls. C) The demand for dollars rises, and the supply of dollars rises. D) The demand for dollars falls, and the supply of dollars rises.
If your total satisfaction increases when you consume another unit, your marginal utility must be
A) positive. B) increasing. C) decreasing. D) negative.
To standardize a variable you
A) subtract its mean and divide by its standard deviation. B) integrate the area below two points under the normal distribution. C) add and subtract 1.96 times the standard deviation to the variable. D) divide it by its standard deviation, as long as its mean is 1.