What is an advantage of operating a sole? proprietorship?
A. Demands on owner
B. Fewer limitations on personal income
C. Resource limitations
D. Financial liability
E. Limited managerial perspective
B. Fewer limitations on personal income
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The owner of a productive resource is most usefully thought of as the person who
A) can appropriate the income from its use. B) can use it most efficiently. C) is willing to pay the most to obtain it. D) possesses legal title.
Suppose the exchange rate falls from $1.20 Canadian per U.S. dollar to $1.10 Canadian per U.S. dollar. U.S. exports will ________, U.S. imports will ________, and U.S. aggregate demand will ________
A) decrease; increase; decrease B) decrease; increase; increase C) increase; decrease; increase D) increase; increase; increase
The factor-price equalization theorem indicates that laborers will end up earning the same wage rate in all countries only if the laborers are allowed to migrate between countries.
Answer the following statement true (T) or false (F)
Mr. McCain pays $1,000,000 in federal income tax. How much is his marginal tax rate?
What will be an ideal response?