What type of relationship has probably been formed if two or more parties agree to combine their efforts for a single business transaction?
Ans: joint venture.
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Assuming all else equal, if a household is pessimistic about future income, it is likely to cause a(n):
A) shift in the current credit supply curve of the household to the right. B) downward movement along the current credit supply curve of the household. C) upward movement along the current credit supply curve of the household. D) shift in the current credit supply curve of the household to the left.
Marginal revenue is the change in total revenue from selling one more unit of output
a. True b. False
A bank's assets equal its liabilities under
a. both 100-percent-reserve banking and fractional-reserve banking. b. 100-percent-reserve banking but not under fractional-reserve banking. c. fractional-reserve banking but not under 100-percent-reserve banking. d. neither 100-percent-reserve banking nor fractional-reserve banking.
Describe who benefits and who loses from tariffs and from quotas. What is the major difference between the effects of a quota and the effects of a tariff?