The money and other valuables that belong to a corporation or partnership:
a. liabilities
b. assets
c. ownership
d. liens
Ans: b. assets
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If inflation is making it difficult for people to estimate the true marginal benefits and true marginal costs of activities, inflation is leading to
A) confusion costs. B) uncertainty costs. C) tax costs. D) shoe-leather costs. E) increased economic growth.
Explain why a single labor supply curve can have both a positive and negative elasticity
What will be an ideal response?
Above the shutdown point, a competitive firm's supply curve coincides with its:
a. marginal revenue curve. b. marginal cost curve. c. average variable cost curve. d. average total cost curve.
The distribution of wealth is more unequal than the distribution of income because wealth reflects
a. persistent wage differentials between people of different abilities b. physical assets as opposed to financial assets c. unequal distribution of talents in the population d. unequal access to education e. the distribution of lifetime accumulated assets