In a partnership, the owners of the business and the business are ________, and in a sole proprietorship, the owner of the business and the business are ________
A) not separate legal entities; also not separate legal entities
B) separate legal entities; also separate legal entities
C) not separate legal entities; separate legal entities
D) separate legal entities; not separate legal entities
A
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________ is the ability to produce more of a good or service than competitors when using the same amount of resources
A) Comparative advantage B) Trade autarky C) Trade superiority D) Absolute advantage
What is the price level?
What will be an ideal response?
A rapid increase in the availability of credit to previously underserved borrowers is likely ________
A) to result from financial liberalization B) to improve the allocation of capital C) to confirm the merits of microcredit D) to result from deleveraging
The law of increasing costs mean that when an economy increases the production of one item-
What will be an ideal response?