Of the types of business organizations in the United States, partnerships account for the ________ percentage of firms and ________ percentage of profits
A) smallest; the smallest
B) smallest; neither the largest nor smallest
C) largest; the smallest
D) largest; neither the largest nor smallest
Answer: B
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The economy could reach point W if it
A. reduced the unemployment rate.
B. achieved economic growth.
C. decreased its quantity of land, labor and capital.
D. shifted resources from butter production into the manufacturing guns.
If depository insurance exists, bank managers may make riskier loans than they would have otherwise, which is an example of
A) adverse selection. B) regulatory lag. C) irrational behavior. D) moral hazard.
When expected inflation increases, for any given nominal interest rate the:
A. real interest rate increases. B. cost of borrowing decreases and the desire to borrow increases. C. cost of borrowing increases and the desire to borrow decreases. D. bond supply curve shifts to the left.
Which would make an individual firm's demand curve less elastic?
A. A reduction in the price of the firm's product. B. The purchase of more efficient machinery. C. A reduction in advertising expenditures by the firm. D. Increased brand loyalty toward the firm's product.