As a result of technology, many small businesses today:
A. no longer need banks.
B. are located closer to their bank.
C. have more face-to-face interactions with their banker.
D. are located further from their bank.
Answer: D
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What is the primary reason that the highest quintile's share of the national income increased very rapidly over the last 20 years?
A. Poor people are lazy and do not want to work. B. All of our jobs have been shipped overseas. C. Tax cuts on the property owners and high income citizens. D. High cost of health care.
If the MPP of labor is 60 and the price of labor per period is $20, the MPP of machinery is 75, and the price of the machinery per period is $25, in order to achieve optimal input proportions, the firm should use
A. more labor and less machinery. B. more machinery and less labor. C. more labor with the same amount of machinery. D. the current combination.
Deflation is a:
A. sustained fall in the aggregate price level. B. sustained increase in the aggregate price level. C. steady, unchanging aggregate price level. D. steady fall in the exchange rate.
Which of the following statements is most correct?
A. Money is a means of payment but is not part of wealth. B. Money is wealth but not all wealth is money. C. In order to be considered part of a person's wealth, an asset must have a positive return. D. Wealth is a store of value and a means of payment.