Question 1

It is a disadvantage of ________ that retained profits are taxed twice.
It is a disadvantage of ________ that bad decisions are not checked by the need for consensus.

Accepted Answer

A) a sole proprietorship;both a partnership and a sole proprietorship 
B) a corporation;a sole proprietorship 
C) both a partnership and a sole proprietorship;a partnership 
D) a corporation;both a partnership and a sole proprietorship 
E) both a corporation and a partnership;a sole proprietorship 
A) a sole proprietorship;both a partnership and a sole proprietorship 
B) a corporation;a sole proprietorship 
C) both a partnership and a sole proprietorship;a partnership 
D) a corporation;both a partnership and a sole proprietorship 
E) both a corporation and a partnership;a sole proprietorship

Question 2

Some firms use large amounts of capital and small amounts of labour,while others use small amounts of capital and large amounts of labour to

Accepted Answer

A) use surpluses of labour and capital and eliminate unemployment of these resources. 
B) use the best available technology. 
C) use the resources that are most readily available. 
D) maximize profit. 
E) maximize production. 
A) use surpluses of labour and capital and eliminate unemployment of these resources. 
B) use the best available technology. 
C) use the resources that are most readily available. 
D) maximize profit. 
E) maximize production.

Question 3

The principal-agent problem exists when

Accepted Answer

A) there is no command system in place. 
B) firms operate as sole proprietorships. 
C) agents do not act in the best interest of principals. 
D) principals do not act in the best interest of agents. 
E) the future value of money is more than its current value. 
A) there is no command system in place. 
B) firms operate as sole proprietorships. 
C) agents do not act in the best interest of principals. 
D) principals do not act in the best interest of agents. 
E) the future value of money is more than its current value.

Question 4

Which one of the following statements is true?

Accepted Answer

A) All technologically efficient methods are also economically efficient. 
B) All economically efficient methods are also technologically efficient. 
C) Technological efficiency changes with changes in relative input prices. 
D) Technologically efficient firms will be more likely to survive than economically efficient firms. 
E) none of the above 
A) All technologically efficient methods are also economically efficient. 
B) All economically efficient methods are also technologically efficient. 
C) Technological efficiency changes with changes in relative input prices. 
D) Technologically efficient firms will be more likely to survive than economically efficient firms. 
E) none of the above

It is a disadvantage of that retained profits are taxed twice. It is a disadvantage of that bad decisions are not checked by the need for consensus.

Some firms use large amounts of capital and small amounts of labour,while others use small amounts of capital and large amounts of labour to

The principal-agent problem exists when

Which one of the following statements is true?

What Is Economics?

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Economic Inequality

Measuring GDP and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: The Keynesian Model

Canadian Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

Exam 10: Organizing Production

It is a disadvantage of ________ that retained profits are taxed twice. It is a disadvantage of ________ that bad decisions are not checked by the need for consensus.

Some firms use large amounts of capital and small amounts of labour,while others use small amounts of capital and large amounts of labour to

The principal-agent problem exists when

Which one of the following statements is true?

What Is Economics?

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, Preferences, and Choices

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Economic Inequality

Measuring GDP and Economic Growth

Monitoring Jobs and Inflation

Economic Growth

Finance, Saving, and Investment

Money, the Price Level, and Inflation

The Exchange Rate and the Balance of Payments

Aggregate Supply and Aggregate Demand

Expenditure Multipliers: The Keynesian Model

Canadian Inflation, Unemployment, and Business Cycle

Fiscal Policy

Monetary Policy

International Trade Policy

Filters

It is a disadvantage of that retained profits are taxed twice. It is a disadvantage of that bad decisions are not checked by the need for consensus.