Which types of firms have limited liability?
A) corporations
B) corporations and partnerships
C) partnerships
D) proprietorships
A
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Labor productivity equals ________
A) real GDP ÷ aggregate hours B) real GDP × aggregate hours C) aggregate hours ÷ real GDP D) aggregate hours × labor productivity E) aggregate hours ÷ labor productivity
Wages in the United States are higher than those in Mexico primarily because
a. output per worker is higher in Mexico than in the United States. b. output per worker is higher in the United States. c. the human and physical capital of American workers is lower than that of their Mexican counterparts. d. all of the above are correct.
Cross-price elasticity is used to determine whether goods are inferior or normal goods
a. True b. False Indicate whether the statement is true or false
Market demand is determined by all of the following except
A. Expectations about future income. B. Income. C. The number of potential sellers. D. Tastes.