When a business is considered by law to be a legal entity, it is known as a
A) partnership.
B) conglomerate.
C) corporation.
D) proprietorship.
Answer: C
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If good weather conditions result in a larger than normal crop of peaches, then the
A) equilibrium price of peaches rises, and the equilibrium quantity of peaches increases. B) equilibrium price of peaches falls, and the equilibrium quantity of peaches increases. C) demand curve for peaches shifts leftward. D) increase in the supply of peaches induces a greater demand for peaches, so that the equilibrium price rises and the equilibrium quantity increases. E) equilibrium price of peaches falls, and the equilibrium quantity of peaches decreases.
Refer to the scenario above. What is the opportunity cost of printing one magazine?
A) 1 notebook B) 2 notebooks C) 15 notebooks D) 30 notebooks
The use of goods and services for personal satisfaction is known as
A) the law of increasing relative cost. B) specialization. C) comparative advantage. D) consumption.
No matter what banks do, when the legal reserve requirement is 20 percent, the potential money multiplier is
a. 0.2 b. 1.2 c. 2 d. 2.5 e. 5