A major advantage of the corporate form of business organization is the added decision- making authority of the owners
Indicate whether the statement is true or false
F
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The above figure shows the market for winter jackets. In an effort to keep the nation warm, the president places a price ceiling of $100 in the market for winter jackets. Which of the following statements is true?
A) After taking account of the resources lost in search, consumer surplus increases when the price ceiling is in place. B) There will be a surplus of jackets. C) Because the price of a jacket is lowered, consumers end up buying more jackets with the price ceiling than without it. D) Producer surplus decreases if there is a price ceiling. E) The quantity supplied of jackets is greater that quantity demanded when there is a price ceiling.
The relationship between distance traveled in five hours and speed shown in the figure above is
A) positive. B) negative. C) inverse. D) cross-sectional. E) multilateral.
Facts, measurements, or statistics that describe the world are referred to as:
A) data. B) models. C) hypothesis. D) empiricism.
If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the nominal price of T is
A) $2. B) 50 cents. C) 1/2 S. D) Need more information to answer.