Which of the following is a disadvantage of? partnerships?
A. Simplicity
B. Single layer of taxation
C. Cost sharing
D. More resources
E. Unlimited liability
E. Unlimited liability
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The larger the number of firms in an industry
A) the more intense the rivalry among firms. B) the larger the potential number of market segments. C) the easier it is to implicitly collude to fix prices. D) the greater the need for a price enforcement mechanism.
If it took as many dollars to buy goods in the United States as it did to buy enough currency to buy the same goods in India, the real exchange rate would be computed as how many Indian goods per U.S. goods?
a. one b. the number of dollars needed to buy U.S. goods divided by the number of rupees needed to buy Indian goods c. the number of rupees needed to buy Indian goods divided by the number of dollars needed to buy U.S. goods d. None of the above is correct.
The market basket approach:
A. gives us a list of what the typical consumer buys and the average price change of those goods. B. tells us how the prices of all goods and services in an economy change over time. C. gives us a single number that represents how changing prices affect the typical consumer. D. tells us exactly how people change what they buy from year to year.
Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel ________ and the equilibrium quantity ________
A) rises; increases B) does not change; does not change C) falls; increases D) rises; decreases E) falls; decreases