Which of the following assets is most liquid?
A) money
B) bond
C) savings account
D) stock
Answer: A
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Which of the following statements is true?
A) All else equal, the incentive to look for a job is lower for an individual with a lower opportunity cost of time. B) All else equal, a worker who earned a higher income earlier but is now unemployed will have a lower opportunity cost of time than someone who had a lower income but is now unemployed. C) All else equal, a worker who earned a higher income earlier but is now unemployed will have the same opportunity cost of time than someone who had a lower income but is now unemployed. D) All else equal, the incentive to look for a job is higher for an individual with a lower opportunity cost of time.
Which of the following is an advantage of starting a new business as a sole proprietorship?
A) The owner has limited personal liability. B) Business profits are not taxed. C) A sole proprietorship has few government rules and regulations to comply with. D) A sole proprietorship can easily attain additional funding.
Katie had a before-tax income of $40,000 and paid taxes of $6,000 . Rinji had a before-tax income of $35,000 and paid taxes of $5,250 . Based on this information, the tax system is
a. There is insufficient information to answer the question. b. progressive c. based on the benefits received d. regressive e. proportional
A firm's _______ contains all combinations of inputs and outputs that the firm can achieve using efficient production methods.
A. production possibilities set B. efficient production frontier C. production function D. production possibilities curve