Answer the following statement(s) true (T) or false (F)
1. investors is corporations have unlimited liability for the company's debts
2. cooperatives can be organized to help consumers, provide services, or help producers
3. the dividends of stockholders in a corporation are subject to double taxation
4. the American Federation of Labor is an example of a professional association
5. preferred stock represents the nonvoting ownership of a corporation
1. false
2. true
3. true
4. false
5. true
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A tariff is a
A $2.00 increase in the size of a tax on a good will only cause the price for buyers to increase by $2.00 if
A) demand is perfectly inelastic. B) demand is perfectly elastic. C) demand is unit elastic. D) demand is inelastic, but not perfectly inelastic. E) demand is elastic, but not perfectly elastic.
The discount rate is the interest rate
A) paid on time deposits. B) paid on funds banks borrow from other banks. C) paid on funds that depository institutions borrow from the Federal Reserve. D) that banks charge their "best" customers.
Most governments subsidize basic education because
A) there are external costs associated with well educated citizens. B) the marginal social benefit of education is greater than the marginal private benefit. C) of the existence of private schools. D) None of the above answers are correct.