Compared to a proprietorship, an advantage of a partnership is
A) that profits are not taxed twice.
B) double taxation.
C) the ability to take advantage of greater specialization.
D) the limited liability of the partners.
C
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Suppose the U.S. government announces that it will bring the federal budget deficit to zero, over the next ten years, with no change in tax rates
Describe the effects of such a policy according to the three business cycle models, assuming that the policy is fully credible.
What most accurately describes the US tariff policy between 1850 and 1910?
a. The US was strongly committed to free trade throughout the period. b. The US became more protectionist during the Civil War and the level of tariffs remained high through 1910. c. The US had very high tariff barriers at the beginning of this period, but lowered them consistently throughout this period.
Criticisms of the Robinson-Patman act
a. It can reduces consumer surplus b. It can reduces producer surplus c. It can creates inefficiency through unconsummated transactions d. All of the above
One important consequence of the confirmation bias is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments