The owner of a proprietorship has ________ liability and ________ required to use all of his or her entire wealth to pay for the firm's losses
A) limited; might be
B) limited; is not
C) unlimited; might be
D) unlimited; is not
C
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If real GDP is greater than nominal GDP then the GDP price index
A) is greater than 100. B) is less than 100. C) is equal to 100. D) is either equal to or greater than 100. E) None of the above answers is correct because we need to choose a new base year.
International regulation occurs at two levels, one in which a specific government regulates the activities of individual firms operating within the country, and another in which several nations are involved
a. True b. False Indicate whether the statement is true or false
Flat tax
A. is same tax rate to everyone. B. is same tax rate to each component of income. C. allows a tax base with no deductions with a few exemptions and expenses. D. is same tax rate to everyone and to each component of income only. E. all of these answer options are correct.
Positive externalities
a. result in a larger than efficient equilibrium quantity. b. result in smaller than efficient equilibrium quantity. c. result in an efficient equilibrium quantity. d. can be internalized with a corrective tax.