Answer the following statement(s) true (T) or false (F)
1. many schools, medical care facilities, and churches operate as nonprofit organizations
2. the government is a nonprofit organization that plays a direct role in the economy by, for example, regulating public utilities that would operate with few or no competitors
3. limited liability is one characteristic of the corporate form of business organization
4. a professional association tries to improve the working conditions, skill levels, and public perceptions of the profession
5. labor unions use collective bargaining to negotiate job-related issues with management
1. true
2. false
3. true
4. true
5. true
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The Federal Reserve System controls the money supply by ________.
A. making loans to private borrowers B. changing the amount of reserves the banking system has available C. making loans to the Treasury D. issuing currency
Is the following quote correct? "Here's the law of demand in a nutshell: The higher the price, the lower the demand."
A) Yes, it is totally correct. B) No. It would be correct if it were to also say "other things constant." C) No, because it confuses demand and quantity demanded. D) No, because the law of demand does not apply to nutshells.
What are the positive impacts of migration on migrants and the firms that hire them?
What will be an ideal response?
Which of the following is true regarding utility along a price-consumption curve?
A) It is constant. B) It changes from point to point. C) It changes only if income changes. D) It changes only for normal goods.