Which form of business organization accounts for the largest proportion of business sales in the United States?
a. sole proprietorship
b. partnership
c. corporation
d. nonprofit organization
e. conglomerate
C
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In the United States, which factor of production earns the largest share of the nation's total income?
What will be an ideal response?
The income that includes a household's earnings in addition to cash transfers from the government is called
A) market income. B) real income. C) money income. D) cash income.
Government transfer payments like social security and unemployment benefits are
A) included in government purchases. B) not included in government purchases. C) not included in government purchases, but they are included in the consumption component of GNP. D) not included in government purchases, but they are part of the investment component of GNP. E) included in government purchases but not in the GNP.
When strategic interactions are important to pricing and production decisions, a typical firm will
a. set the price of its product equal to marginal cost. b. consider how competing firms might respond to its actions. c. generally operate as if it is a monopolist. d. consider exiting the market.