If two restaurants sell many of the same food items but one offers a higher level of service, the service distinction is a form of _____.
(A) Local competition
(B) Choice among substitute products
(C) Nonprice competition
(D) Price fixing
Ans: (C) Nonprice competition
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Provisions of the 2009 Economic Recovery Act (i.e., President Obama's "Stimulus Package") calling for tax credits for first-time home buyers and hybrid cars confirm that the
A. Obama Administration believes that taxes can alter the spending decisions of taxpayers. B. Obama Administration is committed to across-the-board reductions in personal income tax rates. C. Bush Administration's tax cuts were too costly. D. credo of Congress is "No Good Deed Will Go Untaxed."
Which of the following is not an advantage of starting a new business as a partnership?
A) The owners have complete control over the business. B) A partnership can easily attain additional funding. C) A partnership has few government rules and regulations to comply with. D) Business profits are only taxed once, not twice.
Fiscal policy encompasses all of the following except
A) expenditures by the government. B) monetary injection by the government. C) taxation by the government. D) borrowing by the government.
The Greenbackers may be characterized fairly as inflationists
Indicate whether the statement is true or false