Which of the following would be an advantage of the partnership form of business?
a. limited liability
b. unlimited liability
c. ability to raise money by issuing stock
d. ability to bring talents and money together
e. all of the profits earned flow to one person
D
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The government, concerned about the wealth redistribution problem caused by the inequality in debt holding among the rich and poor,
a. created low denomination (low priced) savings bonds b. made special efforts to sell bonds to private citizens c. made special efforts to sell bonds to the Federal Reserve d. prohibited the sale of bonds to foreigners e. created a proportional income tax on income derived from bonds
A transaction with negative externalities will result in _____
a. overproduction b. underproduction c. maximization of net social welfare d. the true cost being borne by the participants in the transaction
When the United States imposed a 25% tariff on imported pickup trucks, the price of Japanese pickup trucks in the United States:
a. rose by 25%. b. rose by less than 25%. c. rose by more than 25%. d. fell by less than 25%.
Compared to a monopolistic competitor, a monopolist faces
A) a more elastic demand curve. B) a more inelastic demand curve. C) a more elastic demand curve at higher prices and a more inelastic demand curve at lower prices. D) a demand curve that has a price elasticity coefficient of zero.