Which of the following is a disadvantage of the corporate form of business organization?
A. double taxation
B. limited financing
C. limited liability
D. unlimited liability
Answer: A
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When the fishing economy mobilized for war preparedness by drafting young men and women, many draftees came from fishing jobs. Picture the market for fish, before and after the mobilization. What happens to the price and quantity of fish on the market after the draft went into effect?
a. Both fish prices and quantity increased. b. Fish prices increased and quantity remained unchanged. c. The draft had no effect on the fish market. d. Fish prices decreased and quantity increased. e. Fish prices increased and the quantity decreased.
The growth of international trade has helped to ______ the productivity of U.S. workers as a whole, and thus helped to ________ the average level of wages.
a. lower; lower b. raise; raise c. raise; lower d. lower; raise
A country reported a nominal GDP of $85 billion in 2010 and $100 billion in 2009. It also reported a GDP deflator of 100 in 2010 and 105 in 2009. Between 2009 and 2010,
a. real output and the price level both rose. b. real output rose and the price level fell. c. real output fell and the price level rose. d. real output and the price level both fell.
Deflation refers to a situation in which
A. the inflation rate decreases. B. there is a recession and inflation. C. prices are not changing. D. the average of all prices is falling.