With a sole proprietorship:
A. shares are valued by the marketplace.
B. income is taxed twice.
C. responsibility is shared.
D. all of one's assets are at risk of loss.
Answer: D
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The Nash equilibrium was named after
a. Tom Nash b. John Nash c. Robert Nash d. Kelvin Nash
If the purchasing power parity theory were literally true
a. we should see some nations devaluing their currencies relative to the U.S. dollar while other nations revalue their currencies b. the price of a traded good should be the same everywhere in the world c. the price of a Big Mac should be the same everywhere in the world d. the exchange rate should be the same everywhere in the world e. prices should tend toward equality with exchange rates
The problem arising in the used car market can be alleviated by
A. providing buyers with more complete information on the condition of a used car. B. having third parties certify the condition of a used car. C. sellers offering warranties. D. All of these statements are true.
Which of the following markets are competitive enough to be treated as perfectly competitive?
A all of the above B Agricultural markets C Copper D The U.S. airline industry E Coal, iron, tin and lumber