Which of the following is a disadvantage of setting up a business as a corporation?
A. Limited control by owners
B. Limited personal liability
C. Greater ability to get funds
D. Risk of personal assets not invested in the firm
Answer: A
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Which of the following is not an example of a resource?
a. an office building b. a product's price c. the land plowed by a farmer in order to grow corn d. the chief executive officer of a large corporation
Public choice analysis explains that
a. politicians have strong incentives to favor deficit finance over tax finance. b. policy makers believe the budget should be balanced except in times of war. c. the legislator who is a spending "watch dog" can save her constituents a substantial amount of tax money. d. given the way Congress operates, the apparent popularity of deficit financing is surprising.
Lead is an important input in the production of crystal. If the price of lead decreases, then we would expect the supply of
a. crystal to be unaffected. b. crystal to decrease. c. crystal to increase. d. lead to increase.
An inward shift of the production possibilities curve could be caused by all of the following except
A. a war that destroys the nation's bridges, harbors and other infrastructure. B. a plague that wipes out one fifth of the population. C. a significant rise in the unemployment rate. D. 30 years of neglect of the nation's railroad and interstate highway systems.