Torrie is thinking of starting up a small business selling hand-painted wine glasses. She is considering setting up her business as a sole proprietorship. What is one disadvantage to Torrie of setting up her business as a sole proprietorship?
A) As a sole proprietor, Torrie would not have control of the business.
B) As a sole proprietor, Torrie would face unlimited liability.
C) As a sole proprietor, Torrie would be taxed twice.
D) As a sole proprietor, Torrie would be subject to significant rules and regulations.
B
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During the Kennedy administration, what did economist Walter Heller propose to bring the economy back to full employment?
A) tariffs on imported goods B) a large government works program C) tax cuts D) insourcing
The long-run supply curve in a constant-cost, perfectly competitive industry is
A) perfectly inelastic. B) upward sloping. C) downward sloping. D) perfectly elastic.
Bonds differ from stocks in all of these ways except:
a. a purchase of corporate stock becomes a part owner of the corporation, while a bondholder does not b. a bondholder loans money to the corporation, which has priority for repayment, while a stockholder may lose her investment c. stockholders know with a high degree of certainty how much money they will get, while bondholders do not d. all of these are correct
In Figure 5.2, at quantities larger than Q1 demand is:
A. inferior. B. elastic. C. inelastic. D. unit elastic.