The limited ability to raise funds is a disadvantage for
A) sole proprietorships and partnerships.
B) partnerships and corporations.
C) sole proprietorships and corporations
D) corporations.
Answer: A
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________ is the market value of final goods and services produced in a country in a given period of time?
A) Gross national product B) Gross domestic product C) Net national product D) Net domestic product
Real GDP in a small country is worth $8 billion. The population of the country is 200,000. What is per capita Real GDP?
A) $30,000 B) $40,000 C) $60,000 D) $300,000
When countries trade with each other, does it result in a gain for everybody?
A. No. Producers of a good that is imported would be hurt. B. No. Consumers of a good that is imported would be hurt. C. No. Producers of a good that is exported would be hurt. D. Yes. All producers and consumers from both exporting and importing countries will gain.
Agriculture price supports that establish a price floor at which agricultural products may be purchased that exceeds the market clearing price
A. result in the quantity of these products supplied exceeding the quantity demanded at the floor price. B. benefit taxpayers, who receive subsidies from producers that the price support program forces to sell to the government at an artificially established price. C. benefit consumers, who are willing and able to purchase more agricultural products at the floor price. D. create a shortage of agricultural products.