The primary way to distinguish among corporations, partnerships, and proprietorships is by observing:
A.) Ownership characteristics.
B.) The size of the industry.
C.) The number of firms in each classification.
D.) The size of profits.
A.) Ownership characteristics.
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If a single union supplies all the labor in a competitive labor market, the union probably will
A. increase labor supply to raise employment. B. restrict labor supply to raise wages. C. increase union membership to increase wages. D. act like a competitive firm.
Refer to Table 4-4. The table above lists the highest prices three consumers, Curly, Moe, and Larry, are willing to pay for a bottle of champagne. If the price of the champagne falls from $24 to $14
A) consumer surplus will increase from $80 to $95. B) consumer surplus increases from $32 to $53. C) Larry and Moe will receive more consumer surplus than Curly. D) Curly will buy four bottles; Moe will buy two bottles, and Larry will buy one bottle.
What is the key assumption about a consumer's marginal rate of substitution?
What will be an ideal response?
Productivity levels in rich countries are:
a. higher than in poor countries b. lower than in poor countries c. about the same as in poor countries d. not related to those in poor countries