A disadvantage of the corporate form of business organization is that corporate income is taxed twice
a. True
b. False
A
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In a liquidity trap, monetary policy has ________ effect on aggregate spending because a change in the money supply has ________ effect on interest rates
A) no; no B) no; a large C) no; a small D) a large; a large
When two goods are complements, their cross-price elasticity of demand is:
A. positive. B. negative. C. zero. D. equal to one.
If the absolute value of the price elasticity of demand for a product is less than 1, then
A) quantity demanded is very sensitive to price changes. B) demand is inelastic. C) demand is unit-elastic. D) demand is elastic.
Which of the following statements is correct?
A. TC = TFC - TVC B. TC = average physical product - marginal physical product C. TC = TFC + TVC D. TC = average product + marginal product