Compared to corporations, businesses that are proprietorships
A) are far more numerous.
B) account for a larger percentage of the economy's total revenue each year.
C) can raise capital more cheaply.
D) All of the above are correct answers.
A
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Recall the Application. If it is not known whether the decrease in price of illegal drugs is primarily due to a change in supply, a change in demand, or equal changes in both, the equilibrium quantity of drugs
A) will increase. B) will decrease. C) will not change. D) may or may not change.
In a perfectly competitive market, the type of decision a firm has to make is different in the short run than in the long run. Which of the following is an example of a perfectly competitive firm's short-run decision?
A) the profit-maximizing level of output B) how much to spend on advertising and sales promotion C) what price to charge buyers for the product D) whether or not to enter or exit an industry E) whether or not to change its plant size
Which of the following is the lowest rating given to an investment-grade bond by Moody's?
A) Aa B) A C) Baa D) B
Which of the following is an example of roundabout production?
a. A farmer switches from growing soybeans to growing wheat, getting fewer crops per year as a result. b. A farmer switches from growing soybeans to growing wheat, getting more crops per year as a result. c. A self-employed dressmaker becomes a wage worker at a factory that makes dresses. d. A coal mine is sold by its owners to its workers and run as a cooperative. e. A telemarketing firm declares a holiday for two days while a new phone system is installed.