Special interests are likely to have less influence over tax reform _____
a. when the reform is small
b. when the reform is comprehensive
c. when the reform is at the local level
d. when the reform is at the state level
b
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Junk bonds are defined as those bonds the rating services consider to be
A) investment grade. B) high risk or speculative grade. C) financial grade. D) in default.
An advantage of the proprietorship as a form of business organization is
A) its limited liability. B) its limited access to capital, thus reducing the possible size of debt. C) that it is easy to form. D) that it can sell bonds to the public.
Regarding the causes of pollution, economists believe that:
a. the pricing system has failed. b. the public interest requires that pollution to be reduced below its market level. c. a firm pollutes the air and water because they are free. d. All of the above are correct.
Equilibrium GDP on the demand side occurs when total spending
a. equals total production, and inventories are zero. b. equals total production, and firms are unable to adjust inventories. c. exceeds total production, and inventories are rising. d. equals total production, and inventories remain at desired levels. e. is less than total production, and inventories are falling.