Necessities such as food and shelter have inelastic demand.
Answer the following statement true (T) or false (F)
True
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This year a country loaned more to the rest of the world than it borrowed from the rest of the world. In addition, the country has invested more in the rest of the world than other countries have invested in it
The country is currently a ________ and also a ________. A) net lender; creditor nation B) net borrower; creditor nation C) net borrower; debtor nation D) debtor nation; net lender
By making most of its employees owners of the company, United Airlines attempted to
A) cope with the unlimited liability problem. B) change its business organization from a corporation to a partnership. C) address the principal-agent problem between the workers and managers. D) increase the role of the command system in managing the firm.
In a typical year, ________ new firms open in the United States
A) more than 400,000 B) more than 1 million C) approximately 125,000 D) less than 200,000
Economic regulation occurs when:
a. monopoly is the optimal market structure b. the industry is highly competitive c. the product is important to economic welfare d. the government owns the assets of the industry e. the product price, if left unregulated, would be too low