Of the different types of businesses, a ________ has the most government rules and the most government regulations affecting it
A) sole proprietorship
B) corporation
C) partnership
D) All of the above are subject to the same amount of rules and regulations.
B
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In the figure above, the middle fifth of all households receive what share of income?
A) 10 percent B) 30 percent C) 20 percent D) 5 percent
Redemptioners were immigrants who:
a. came to America as missionaries. b. were brought over on credit provided by ship captains. c. had previously been imprisoned in England. d. refused to work as indentured servants.
Which of the following is true of exchange?
a. Exchange is a zero sum activity; if one party to an exchange gains, the other must lose an equal amount. b. The exchange value of a good is determined by the cost of the resources required to produce the good. c. The total output trading partners are able to produce is not influenced by whether the partners trade with each other. d. Exchange permits trading partners to expand their total output of goods and services as the result of greater specialization in areas where each has a comparative advantage.
The circular flow diagram of economic activity is a model of the:
A. flow of goods, services, and payments between households and firms. B. influence of government on business behaviour. C. role of unions and government in the economy. D. interaction among taxes, prices, and profits.