What is the most common type of business?
A) corporation
B) partnership
C) sole proprietorship
D) They are equally represented because of federal laws.
Answer: C
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During the Christmas shopping season, the demand for money increases significantly. If the Fed takes no actions to offset the increase in money demand, then nominal interest rates will:
A. equal the real interest rates. B. increase. C. remain constant. D. decrease.
During recessions, economics majors earn about 35 percent more than the typical college graduate
Indicate whether the statement is true or false
Assuming the United States is the "domestic" country, if the real exchange rate between the United States and Russia decreases from 28 to 23
A) the prices of U.S. goods and services have increased by 25.5% relative to Russia. B) the prices of U.S. goods and services have decreased by 5% relative to Russia. C) the prices of U.S. goods and services have decreased by 18% relative to Russia. D) the prices of U.S. goods and services have increased by 22% relative to Russia.
Labor productivity in the United States was 5.4 times higher in the United States than in China in 2010. A key reason that labor productivity is higher in the United States is because the United States
A) has a higher growth rate, based on GDP per capita, than China. B) has a higher life expectancy and higher birth rate than China. C) devotes more resources than China to developing new technology and accumulating human capital. D) devotes more resources than China to developing export markets to boost its real GDP and income.