Which of the following is the most common form of business organization in the United States?
A) proprietorship
B) partnership
C) corporation
D) S-corporation
Answer: A
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The apparent stickiness of the price of goods sold by oligopolists can be explained by the
A. contestable markets model. B. sales maximization model. C. kinked demand curve model. D. entry deterrence model.
When the consumer price index is computed, the base year is always the first year among the years being considered
a. True b. False Indicate whether the statement is true or false
Human capital is
a. the same thing as technological knowledge. b. the same thing as labor. c. the tools and equipment operated by humans. d. knowledge and skills that workers have acquired.
Suppose that the elasticity of demand for a product is 0.5 and price decreases by 20%. By what percentage will quantity demanded increase?
A. 0.5% B. 5% C. 10% D. 40%