One advantage of a corporation over a sole proprietorship is:
A. avoidance of double taxation.
B. greater accountability.
C. ease of formation.
D. greater ability to obtain funds.
Answer: D
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Suppose a firm has total revenue of $200 million, explicit costs of $190 million, and implicit costs of $20 million. This firm's accounting profit is:
a. $80 million. b. $70 million. c. $10 million. d. ?$10 million.
China has experienced particularly high rates of economic growth as a result of
A. High rates of government spending. B. High rates of consumer spending. C. High rates of capital investment. D. Low rates of saving.
A monetarist would advocate ________ money supply during recessions and ________ money supply during periods of high inflation.
A. increasing; increasing B. increasing; decreasing C. decreasing; increasing D. none of the above
Which of the following is an example of frictional unemployment?
A. Dora lost her job when the textile factory closed. She does not have skills to work in another industry and has been unemployed for over a year. B. Hector looked for a job for five weeks after finishing college. He turned down several jobs that didn't fit his skills, but now has a job that requires the expertise he gained in college. C. George is an unskilled worker who mows lawns in the summer, but is unemployed the rest of the year. D. Marsha was laid off from her job with the airline because the recession has reduced the demand for airline travel. She expects to get her job back when the economy picks up.