Economists generally assume that the main goal of most businesses in the economy is to
A. provide jobs for the local population.
B. avoid having to make very many decisions.
C. maximize profits.
D. be responsible corporate citizens.
Answer: C
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Who bears the costs of a program to control rents at a maximum level?
A) landlords or owners of housing units B) consumers who face difficulty moving to a more suitable apartment C) homeless who cannot find rental units D) all of these
Jill, a bookkeeper just received an attractive offer from an outside firm. Her opportunity cost, of staying in her current position has
a. Increased b. Decreased c. Not changed d. All of the above
In the market for crude oil, everything held constant, if rate of interest of simple bank accounts or interest-bearing investments decline, then:
a. the consumption of crude oil declines in the present period. b. the extraction of crude oil will increase today. c. the price of the crude oil in the international market falls in the present period. d. greater research and developments are conducted to locate new sites of crude oil in the present period. e. the extraction of crude oil will fall in the present period.
A legal entity that may conduct business in its own name just as an individual does is a(n)
A. proprietorship. B. corporation. C. partnership. D. entrepreneur.