Which of the following is not one of the basic legal forms of business organization in the United States?
a. corporation.
b. syndicate.
c. sole proprietorship.
d. partnership.
b. syndicate.
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Input demand is called derived demand because:
a. demand for an input is derived from the demand for the product or service it produces. b. demand for the output produced is also derived from consumer demand. c. demand for an input is derived from its availability in the input market. d. input demand actually determines how much output is produced.
Suppose the total monetary value of all final goods and services produced in a particular country in 2010 is $500 billion and the total monetary value of final goods and services sold is $450 billion. We can conclude that:
A. GDP in 2010 is $450 billion. B. NDP in 2010 is $450 billion. C. GDP in 2010 is $500 billion. D. inventories in 2010 fell by $50 billion.
Which type of unemployment is most likely to help the economy become more efficient?
a. cyclical b. structural c. seasonal d. frictional e. underemployment
How does saving help a nation’s economy to grow?
a. Saving allows a nation to invest in new, productive capital. b. When people have money saved, companies can pay lower wages. c. Saving artificially increases the value of the stock market. d. Saving prevents foreign countries from growing faster.