Which is the least common type of business?
A) sole proprietorship
B) corporation
C) partnership
D) impossible to determine without further information
C
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Division of labor has caused output to rise dramatically since the industrial revolution.
Answer the following statement true (T) or false (F)
If inflation does not adjust rapidly in the short run, then when the Federal Reserve increases the nominal interest rate, the real interest rate in the short run will ________.
A. decrease B. be determined by saving and investment decisions. C. increase D. not change
In the table above, in terms of units of pizza, real income is
A) lower in case A than in cases B and C. B) lower in case B than in cases A and C. C) lower in case C than in cases A and B. D) equal in all three cases.
Too much spending chasing too few goods is the essence of what type of inflation?
What will be an ideal response?