Ceteris paribus, which of the following is most likely to cause an increase in the quantity supplied of perfume?
A. An improvement in perfume-making technology.
B. An increase in the price of perfume.
C. An increase in the number of sellers of perfume.
D. An increase in the salaries paid to perfume makers.
Answer: B
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An advantage of the corporation over other forms of business organization is that
A) the owners have unlimited liability. B) a corporation's profits are taxed only once. C) large-scale, low-cost capital is more readily available. D) the decision-making structure is simple.
Which of the following statements presents accurate information about antebellum wages for males employed in manufacturing?
a. During the 1850s, real wages doubled. b. Real wages were higher and grew more rapidly in New England than in the Middle Atlantic states. c. Wage rates converged in the mid-1800s due to transportation improvements. d. Wage rates in the 1820s were higher in rural areas than in urban areas.
As economic similarity rises, the stability costs of a common currency decrease because there are:
A) more asymmetric shocks. B) fewer asymmetric shocks. C) no asymmetric shocks. D) no symmetric shocks.
Diseconomies of scale imply that the average total cost curve is downward-sloping in the long run.
Answer the following statement true (T) or false (F)