A partnership that is allowed to raise money by selling units of ownership to the general public.
What will be an ideal response?
Master Limited Partnership(MLP)
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A government policy of providing job training for unskilled youths is an example of a policy to promote economic growth by:
A. increasing the availability of natural resources. B. improving technology. C. increasing physical capital. D. increasing human capital.
A downward sloping marginal product of labor curve demonstrates the law of diminishing marginal returns
Indicate whether the statement is true or false
The law of comparative advantage indicates that
a. specialization and exchange will permit trading partners to maximize their joint output. b. a nation can gain from trade only if it is not at an absolute disadvantage in producing all goods. c. a nation can gain from trade only when its trading partners are not low-wage countries. d. countries should export products for which they are high-opportunity cost producers.
Economic profit is equal to
a. total revenue minus the explicit cost of producing goods and services. b. total revenue minus the implicit cost of producing goods and services. c. total revenue minus the opportunity cost of producing goods and services. d. average revenue minus the average cost of producing the last unit of a good or service. e. total revenue minus depreciation.