Define a partnership
What will be an ideal response?
A partnership is a firm owned jointly by two or more persons and is not organized as a corporation.
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An increase in autonomous spending leads to higher ________
A) inflation B) output C) real interest rate D) all of the above E) none of the above
The difference between savings and investment is that a. investment is purchasing stock, while savings is putting money in a bank. b. investment is purchasing capital, savings is postponing consumption. c. investment is purchasing assets, while consumption is purchasing goods. d. investment increases output, while savings decreases output
Figure 4.1
When the cross-price elasticity of demand between two products is positive, the two goods are said to be substitutes
a. True b. False
Productivity increases, brought about by increased education and training, may shift the aggregate supply curve outward
a. True b. False Indicate whether the statement is true or false