The most complicated form of business ownership is the sole proprietorship
Indicate whether the statement is true or false
false
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Rapid ________ in prices during periods of ________ is known as stagflation.
A. decreases; recession B. increases; expansion C. increases; recession D. decreases; expansion
The balance sheet below is for the First Federal Bank. Assume the required reserve ratio is 20 percent.
Refer to the above information. This bank can safely expand its loans by a maximum of:
A. $20,000
B. $40,000
C. $100,000
D. $200,000
A diagram of an individual's utility from income will be a line with a constant slope if the individual is risk-neutral.
Answer the following statement true (T) or false (F)
Individuals A and B both produce good X. A has a comparative advantage in the production of good X if A
A) has a lower opportunity cost of producing good X than has B. B) has a lower opportunity cost of producing good X than of producing good Y. C) can produce more units of X in a given time period than can B. D) can produce X using newer technology than can B.