The most numerous or plentiful firms in the United States are found in this form of business
A) partnership.
B) proprietorship.
C) monopoly.
D) corporation.
B
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Because the sale of goods and services generates income for the sellers,
A) GDP is unaffected by such exchanges. B) national income will usually by greater than GDP. C) national income will essentially equal GDP. D) national income will increase, but GDP will decrease. E) sales taxes must be subtracted from GDP.
George Webb Restaurant collects on the average $5 per customer at its breakfast & lunch diner. Its variable cost per customer averages $3, and its annual fixed cost is $40,000 . If George Webb wants to make a profit of $20,000 per year at the diner, it will have to serve__________ customers per year
a. 10,000 customers b. 20,000 customers c. 30,000 customers d. 40,000 customers e. 50,000 customers
Sterilization occurs when a central bank offsets the effects of expansionary monetary policy through foreign exchange market intervention
a. True b. False Indicate whether the statement is true or false
Economists who are skeptical about the relevance of "liquidity traps" argue that
a. a central bank continues to have tools to stimulate the economy, even after its interest rate target hits its lower bound of zero. b. a central bank continues to have the option of committing itself to future monetary contraction, even after its interest rate target hits its lower bound of zero. c. a central bank can greatly reduce the likelihood of a liquidity trap by setting the target rate of inflation at zero. d. while the concept of a liquidity trap is theoretically possible, nothing resembling a liquidity trap ever has been observed in the real world.