Sole proprietorships:
A.) Are each owned by many individual stockholders.
B.) Are owned by one individual.
C.) Account for most business sales and assets.
D.) Are the least common type of business firm.
B.) Are owned by one individual.
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Real rates of return are
A. not taxed. B. not adjusted for inflation. C. adjusted for inflation. D. used in individual financing and not corporate financing.
In an open economy, gross domestic product equals $3,500 billion, consumption expenditure equals $2100 billion, government expenditure equals $400 billion, investment equals $800 billion, and net exports equals $200 billion. What is national savings?
a. $200 billion b. $600 billion c. $800 billion d. $1,000 billion
Figure 5-2
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In Figure 5-2, an increase in government spending would cause
A. an outward shift in the aggregate supply curve and an increase in the price level. B. an outward shift in the aggregate demand curve and an increase in the price level. C. an inward shift of the aggregate demand curve and an increase in the price level. D. an inward shift of the aggregate demand curve and a decrease in the price level.
A major prediction of the kinked-demand curve model is:
A. stability of production costs in oligopolies. B. price stability in oligopolies. C. stable purchasing behavior by consumers over time. D. price instability in oligopolies.