A form of business whose profits are taxed twice is
A) a proprietorship.
B) a partnership.
C) a corporation.
D) either a proprietorship or a partnership, depending on other information.
C
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Answer the following statement(s) true (T) or false (F)
1. When both players have dominant strategies, there is one and only one Nash equilibrium 2. In any game situation, at least one player always has a dominant strategy. 3. An outcome is a Nash equilibrium if and only if both players agree that the outcome is desirable. 4. The main problem in the Prisoners' Dilemma is that the players involved fail to agree on an outcome that would be mutually beneficial. 5. When both players have dominant strategies, there is only one Nash equilibrium.
In the presence of no externalities,
A) social marginal cost exceeds private marginal cost. B) social marginal cost is less than private marginal cost. C) social marginal cost equals private marginal cost. D) social marginal cost and private marginal cost cannot be compared.
Assume a bank has total deposits of $100,000 and $20,000 is set aside to meet reserve requirements of the Fed. Its required reserve ratio is:
A. $20,000. B. 20 percent. C. 0.2 percent. D. 1 percent.
When there are sustained increases in real GDP over time, we say that the economy is undergoing:
A. economic stagnation. B. a recession. C. economic growth. D. massive changes in productive capacity.