Which type of business is the most difficult to set up?
A) sole proprietorship
B) partnership
C) corporation
D) There is no difference in the difficulty of establishment.
Answer: C
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Define the following terms. Give a complete and precise definition in one sentence. a. total utility b. marginal utility c. consumer’s surplus d. “law” of demand
What will be an ideal response?
What are the outcomes of the following games, assuming the max-min criteria is used?
What will be an ideal response?
A risk neutral individual
a. Values a lottery at more than its expected value b. Values a lottery at less than its expected value c. Values a lottery at its expected level d. Tends to play a lot of lotteries
The larger the mpc, the ________ the income-expenditure multiplier and the ________ the effect of a change in autonomous spending on short-run equilibrium output.
A. smaller; smaller B. smaller; larger C. larger; smaller D. larger; larger