A major advantage of the corporation is
A. limited taxes.
B. preferential treatment by state governments.
C. limited liability of individual owners.
D. limited numbers of owners and ease of decision making.
Answer: C
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The figure illustrates Elijah's preferences. He is currently at point A. The price of pizza decreases. The move from point A to point ________ is the substitution effect and the move from point ________ to point ________ is the income effect
A) B; B; C B) E; E; C C) D; D; B D) C; C; B
The U.S. economy in the 1960s was dominated by a massively expansionary ________ policy that ended up ________
A) monetary, overstimulating the economy B) monetary, being impotent in ending the long stagnation of that decade C) fiscal, overstimulating the economy D) fiscal, being impotent in ending the long stagnation of that decade
If a laborer in Mexico can produce 2 bushels of wheat or 4 bushels of corn in a day, the opportunity cost of producing wheat is 4 bushels of corn
a. True b. False Indicate whether the statement is true or false
When misallocation of resources for production of a good results in spillover effects on third parties, there is a
A. productive failure. B. consumer failure. C. market failure. D. government failure.