Which of the following is an advantage of starting a new business as a sole proprietorship?
A) double taxation
B) ease in setting up
C) limited liability
D) greater ability to raise funds
Answer: B
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Given the following information, calculate personal consumption expenditures
GDP $5,000 Gross Private Domestic Investment $1,500 Government Consumption Expenditures and Gross Investment $1,000 Net Exports -$500
Susan can bake 200 cookies in an hour or watch her favorite TV show. If she chooses to watch her show, her opportunity cost is
a. 200 cookies b. 100 cookies c. 150 cookies d. Need more information
‘The U.S. tax code gives preferential treatment to investors in municipal bonds. This is an example of
a. a tax loophole. b. tax evasion. c. an administrative burden. d. tax enforcement.
Concerned about the political fallout from rising gas prices, the US government decides to impose a price ceiling on gasoline of $3 a gallon. If the oil-producing nations increase production and drive the equilibrium price of gasoline to $3 a gallon, ______. The market for gasoline is _____.
Fill in the blank(s) with the appropriate word(s).