The major difference between a proprietorship and a partnership is the
a. double taxation laws
b. change in the liability of the owners
c. profit earned
d. number of owners
e. ownership control over day-to-day operations
D
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Under a fixed exchange rate system, the central bank of a country experiencing a balance of payments surplus will:
A) increase the supply of domestic currency to prevent currency depreciation. B) increase the demand for domestic currency to prevent currency depreciation. C) increase the supply of domestic currency to prevent a currency appreciation. D) increase the demand for domestic currency to prevent a currency appreciation.
A major controversy involving the banking industry in its early years was
A) whether banks should both accept deposits and make loans or whether these functions should be separated into different institutions. B) whether the federal government or the states should charter banks. C) what percent of deposits banks should hold as fractional reserves. D) whether banks should be allowed to issue their own bank notes.
Direct transfer programs
a. are generally less efficient and less politically acceptable than subsidy programs b. are generally more efficient and more politically acceptable than subsidy programs c. are generally less efficient but more politically acceptable than subsidy programs d. are generally more efficient but less politically acceptable than subsidy programs e. will generally result in increased production by the group being subsidized
The Keynesian perspective considers changes to aggregate demand to be the cause of ____________ cycle fluctuations.
a. business b. production c. weather d. consumption