Exam 3: Economic Decision Makers

It is difficult to exclude individuals from the use of public goods and services.

In terms of the numbers of firms in the U.S.economy, the most common type of firm is the

Which of the following represents the best example of proprietor's income?

The largest source of federal government revenue is

A major advantage of the corporate form of business organization is the limited personal liability of the owners.

Which of the following is an example of a durable good?

Which of the following represents the best example of rental income?

Which of the following is a defining characteristic of a public good?

Which of the following is not a goal of government programs?

Which of the following is a disadvantage of the corporation compared to the sole proprietorship?

Government antitrust laws were designed to

Household production is more likely to occur when

Which of the following is an advantage of a sole proprietorship?

The movement in U.S.population from the farms to urban areas was caused primarily by

Mark and Charles are roommates at college.Each has written a 25-page term paper for the same English class.They are equally poor typists.Charles types his own paper and gets paid by Mark to type his, too.On the basis of the information given, which one of the following must be true?

Which of the following is true of public goods?

If a state government finances treatment facilities for alcoholics out of revenues from a tax on liquor, it is

Federal individual income taxes illustrate the ability-to-pay principle of taxation.

You are more likely to hire your teenage child to cut your lawn than a landscaping firm

Which of the following would not describe two thirds of the for-profit businesses in the United States as measured by sheer number of firms?