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Cards In This Set
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In a pure monopoly, the seller will charge more than the equilibrium price.
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True
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In a sole proprietorship, owners pay only personal income taxes on their profits.
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True
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In a command economy, economic decisions are made by individuals.
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False
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The United States has the highest per capita income in the world.
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False
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In a pure monopoly, the seller will charge more than the equilibrium price.
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True
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You should pay your high-interest credit cards first.
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True
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According to the law of demand, quantity and price more in the same direction.
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False
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Warehouse food stores are usually open 24 hours.
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False
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Union membership has increased steadily since 1945.
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False
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The kind of system in which the individuals won and control the factors of production is a command economy.
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False
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Aggregate demand is the total quantity of goodsand services used by businesses.
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False
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In a sole proprietorship, owners pay only personal income taxes on their profits.
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True
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According to the law supply, producers are willing to supply more when the price of a good or service gose up.
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True
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The president can prevent workers from striking for a period of 80 days.
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True
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Durable goods are define as goods that last more than 10 years.
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False
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