After Hurricane Katrina, the supply curve for gasoline
A. shifted to the left.
B. became flatter.
C. shifted to the right.
D. became steeper.
Answer: A
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In a partnership
A) each partner's liability is limited to their investment in the company. B) profits are taxed at both the corporate rate and the personal income tax rate. C) upon the death of a partner it may be necessary to sell the business. D) there is a separation of ownership and management like in a corporation.
Which of the following will be excluded from the measurement of gross domestic product (GDP)?
a. The market value of automobiles purchased by the federal government b. The market value of California wine purchased by a Canadian firm c. The payment of employees' medical insurance d. The market value of computers purchased by state governments e. The market value of transactions in the underground economy
Most markets in the United States:
A. are monopolies. B. have some degree of competitiveness, but are not perfectly competitive. C. are perfectly competitive. D. have very few competitive features and so are regulated by the government.
Which of the following is true of the segmented markets theory?
A) It assumes that borrowers have particular periods for which they want to borrow. B) It assumes that lenders always lend for short periods. C) It provides a good explanation for why yield curves usually slope upward. D) It assumes that instruments with different maturities are perfect substitutes.