The most numerous form of business organization in the United States is
a. the partnership
b. the multinational
c. the corporation
d. the sole proprietorship
e. none; all business organizations are equally numerous
D
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When the price of a good increases by 300%, the quantity supplied of the good increases from 200 units to 900 units. The price elasticity of supply of the good is:
A) 1.17. B) 1.5. C) 3. D) 4.5.
The price level in the economy between 2014 and 2015 rose from 100 to 110. Between 2015 and 2016, the price level rose from 110 to 121. How does the short-run Phillips curve predict the unemployment rate will change as a result?
A) The unemployment rate will increase since inflation increased. B) The unemployment rate will decrease since inflation increased. C) The unemployment rate will decrease since inflation decreased. D) The unemployment rate will not change since there is no change in the rate of inflation.
The net amount of international reserves that move between governments to finance international transactions is called the ________ balance
A) capital account B) current account C) trade D) official reserve transactions
U.S. government regulation of social and economic activity
A) only began after World War II. B) costs less now than it did in the 1980s. C) has increased steadily since 1970. D) is confined to antitrust law.