The form of business organization responsible for generating the greatest portion of business revenues in the United States is the
A. corporation.
B. partnership.
C. proprietorship.
D. dual proprietorship.
Answer: A
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John started going for soccer matches after moving in with a roommate who is a huge fan of soccer. This is an example of a(n) ________
A) moral hazard B) adverse selection C) peer effect D) pecuniary externality
Alan Garcia
A) in his first Presidency in Peru, followed free market economic policies. B) nationalized the property of the financial services sector during his first Presidency. C) was never freely elected in Peru and ruled with the support of the military. D) maintained balanced budgets and helped Peru avoid the economic problems most Latin American nations were experiencing in the 1980s.
A cartel maximizes industry profit by:
a. eliminating quotas. b. producing at the kink in its demand curve. c. producing where MR = MC. d. giving secret price concessions. e. producing more output than a monopoly would.
Based on the given figure, the economy is initially in long-run equilibrium at point A. If there is a favorable supply shock that increases potential output and shifts the long-run aggregate supply curve from LRAS to LRAS', then there is initially ________ gap and the short-run aggregate supply curve will ________.
A. an expansionary; eventually shift to SRAS" B. a recessionary; eventually shift to SRAS" C. an expansionary; eventually shift to SRAS' D. a recessionary; eventually shift to SRAS'