On the vertical axis, the production possibilities frontier shows ________; on the horizontal axis, the production possibilities frontier shows ________
A) the quantity of a good; the number of workers employed to produce the good
B) the quantity of a good; the price of the good
C) the quantity of a good; a weighted average of resources used to produce the good
D) the quantity of one good; the quantity of another good
D
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Technological advances: a. Shift only the short run aggregate supply curve to the right
b. Shift only the long run aggregate supply curve to the right. c. Shift both short run and long run aggregate supply curves to the right. d. Do none of the above
Which of the following statements about business organizations is TRUE?
A) Partnerships are more common than proprietorships and are responsible for a larger percentage of business receipts. B) Proprietorships are more common than either partnerships or corporations but are responsible for the smallest share of total business receipts. C) Corporations are larger in number than either proprietorships or partnerships and also receive a larger percentage of total business receipts. D) Partnerships are larger than both proprietorships and corporations but are less numerous than corporations.