Research and development refers to the activity of firms, universities, and government agencies that seek to invent new products and processes
a. True
b. False
Indicate whether the statement is true or false
True
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The form of business organization with the most flexibility of management is the
a. sole proprietorship. b. partnership. c. corporation. d. cooperative.
Direct controls are considered inefficient because all firms are forced to pay the same costs.
Answer the following statement true (T) or false (F)
Which of the following is typically NOT an argument used for keeping the U.S. trade embargo with Cuba intact?
A) There is not much economic potential from trade given Cuba's small population and low per capita income. B) Removal of the embargo will cause much more Cuban immigration to the United States. C) If the Cuban economy is weakened just a bit more, the Cuban political-economic system cannot be sustained. D) There will be a backlash among countries supplying such commodities as sugar to the United States if the U.S. buys them from Cuba instead.
What happens when the government prints too much money?
a. Service prices decline. b. Money loses its value. c. Currency supply falls. d. Faith in money rises.