The major advantage of the sole proprietorship is its
a. ability to raise funds.
b. lack of distinction between business and owner.
c. provision of continuity in the business in case of death.
d. flexible management.
d. flexible management.
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Refer to Figure 3.1. Homer's dominant strategy is to ________ committing the crime, and Marge's dominant strategy is to ________ committing the crime
A) confess to; confess to B) confess to; deny C) deny; confess to D) deny; deny
The effect of an import quota on the domestic market is to shift the:
a. demand curve to the right by the amount of the quota. b. demand curve to the left by the amount of the quota. c. supply curve to the right by the amount of the quota. d. supply curve to the left by the amount of the quota. e. consumers' marginal utility curves if they prefer foreign goods to domestic goods.
According to real business cycle theorists, if the long-run aggregate supply (LRAS) curve shifts to the left, Real GDP __________, the price level __________, the demand for labor __________, money wages __________, real wages __________, and workers choose to work __________
A) falls; falls; rises; fall; fall; less B) falls; rises; rises; fall; rise; more C) falls; rises; falls; fall; fall; less D) rises; rises; falls; fall; rise; more E) rises; falls; rises; fall; fall; more
The cross-price elasticity sign for substitute goods is negative.
Answer the following statement true (T) or false (F)