The owner or owners control the day-to-day activities of which of the following types of business?
A) corporations and partnerships B) sole proprietorships and corporations
C) partnerships and sole proprietorships D) only corporations
C
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The market clearing price of a good is
A) the price at which there is at least some of the good available for everyone. B) the price at which there is no surplus and no shortage. C) the price that consumers prefer. D) the price that producers prefer.
For a given interest rate, r, which of the following expressions is smallest?
a. 1 + r. b. (1 + r/2)2. c. (1 + r/12)12 d. (1 + r/365)365.
Forests in the United States, starting from the time the colonists arrived,
a. have always expanded. b. have only shrunk in size. c. have changed little. d. shrank as they were logged and cleared for farms, then rebounded, especially in the twentieth century.
According to the quantity theory of money, a decrease in prices would be due to:
A. an increase in the production of output. B. a decrease in the production of output. C. an increase in the money supply. D. a decrease in the money supply.