Which of the following is a major advantage of the sole proprietorship?
a. separation of ownership and control
b. limited liability for business debt
c. transferability of ownership and firm continuity over time
d. ease of start-up
e. ease of obtaining financing
D
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Gross domestic product is a measure of
A. the size of the largest industry in an economy. B. the money value of all final goods and services produced in a year by the economy. C. the volume of goods and services, which involved in international trade. D. the goods and services produced strictly by corporations. E. the nonmarket production of goods and services.
Assume the desired reserve ratio is 10 percent, banks loan all excess reserves and the currency drain is zero. If the Fed sells $100 million of U.S. government securities to Boise Bank, the monetary base increases by
A) $1 million. B) $10 million. C) $100 million. D) $1,000 million. E) $90 million.
When a resource used in the production of a good sold in a competitive market is available in only limited quantities, the long-run supply curve is likely to be upward sloping
a. True b. False Indicate whether the statement is true or false
An unanticipated decrease in aggregate demand will cause an upward shift in the short-run Phillips curve
Indicate whether the statement is true or false