A sole proprietorship is the type of business that has ________ government rules and regulations affecting it
A) the fewest B) the most C) no D) only federal
A
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If output per worker in a steady state is $30,000, depreciation is 13%, the population growth rate is two percent, and the saving rate is 20%, what is the steady state capital-labor ratio?
A) $10,500 B) $85,714 C) $22,500 D) $40,000
If the savings rate of Country A increases from 10% to 20% and technology growth is zero, then the neoclassical model predicts that in the steady state
a. the capital-to-labor ratio will not grow in the long-run but higher than it is now. b. the capital-to-labor ratio will grow 10% faster. c. the growth rate of output will be permanently higher. d. the level of output will be permanently higher. e. a and d.
Which of the following is NOT a feature of a monopolistically competitive market?
A) numerous buyers and sellers B) differentiated products C) advertising D) a homogeneous product
What are economies of scope?
a. the cost of producing two products jointly by one firm is more than the cost of producing them separately b. the cost of producing two products jointly by one firm is lesser than the cost of producing them separately c. the cost of producing two products jointly by one firm is equal to the cost of producing them separately d. none of the above