The greatest advantage of a corporation is
A) ease of setting up the business.
B) the double taxation of dividends.
C) separation of ownership and control of the business.
D) limited liability.
D
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The income elasticity of demand is defined as the percentage change in
A) the quantity demanded resulting from a given percentage change in price. B) income divided by the percentage change in quantity demanded. C) the movement along the demand curve resulting from a change in income. D) the quantity demanded divided by the percentage change in income.
Information on money growth is available to the public with ________ lags, causing difficulty for the ________ of the New Classical approach
A) long, Friedman but not Lucas version B) long, Lucas but not Friedman version C) long, Friedman and Lucas versions D) short, Friedman and Lucas versions E) short, Friedman but not Lucas version
When drawn against the current real wage, the labor demand curve shift to the right if
A) the interest rate increases. B) current taxes increase. C) total factor productivity increases. D) future capital increases.
The U.S. Social Security tax is an example of a
A) progressive tax. B) proportional tax. C) premium tax. D) regressive tax.