The main disadvantage to forming a corporation is
a. low profits
b. double taxation
c. small number of owners
d. difficulty in raising funds
e. stockholders usually control the company
B
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Important factors that change the demand for dollars and hence shift the demand curve for dollars include which of the following?
I. interest rates around the world II. the current exchange rate III. the expected future exchange rate A) I and II B) I and III C) II D) I, II, and III
When we say the cost of living has gone up, we mean that, looking broadly over a range of goods and services:
A. a dollar buys less today than it used to buy. B. a dollar buys more today than it used to buy. C. a dollar buys the same today as it used to buy. D. our income has increased to match the cost of those goods.
The unregulated portion of the economy involving goods and services that are produced and exchanged without monetary transactions is known as
a. the underground economy. b. the secret economy. c. the capital consumption. d. transfer payments.
Answer the following statements true (T) or false (F)
1. The labor supply curve(s) will shift left if there is a decrease in wages. 2. An increase in the price of a product signals consumers that there is an overage and the product should perhaps be economized on. 3. The market price system provides a highly efficient mechanism for disseminating information about relative scarcities of goods, services, labor, and financial capital. 4. It is a common mistake to confuse the slope of the supply curve with its elasticity. 5. Zero elasticity in either a supply or demand curve occurs when a price change of one percent results in a quantity change of one percent.