If legally owning a business can spur growth, why don't all business owners legalize their businesses?
A. Business owners don't care about economic growth.
B. Legally owning a business opens new avenues for obtaining loans.
C. Excessive regulations often make running a legalized business more cumbersome.
D. Legalizing a business has no impact on business practices, so why do it?
Answer: C
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Full employment describes the condition in which
a. 100 percent of the civilian labor force is employed. b. 95 to 96 percent of the civilian labor force is employed. c. there is no frictional unemployment. d. unemployment is 10 percent or less.
The equation that represents M2 in the model of the money supply process is
A) M2 = C + D. B) M2 = C + D + T - MMF. C) M2 = C + D - T + MMF. D) M2 = C + D + T + MMF.
At the end of the future period, in the real intertemporal model with investment
A) the firm's capital becomes useless and is thrown away. B) the firm's capital is used to produce more capital for the distant future. C) the firm can convert capital one-for-one into consumption goods. D) the firm's capital is converted into labor.
Explain the concept of externality and give an example