A firm that has limited liability is classified as a
A) proprietorship.
B) partnership.
C) partnership or proprietorship.
D) corporation.
D
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Which of the following is an implicit cost of production?
A) interest paid on a loan to a bank B) wages paid to labor plus the cost of carrying benefits for workers C) rent that could have been earned on a building owned and used by the firm D) the utility bill paid to water, electricity, and natural gas companies
The nominal rate of interest is
A) the interest rate observed in today's market. B) the interest rate observed in the market minus the inflation premium. C) not influenced by inflation. D) a value that depends upon the stock market.
Which statement best describes the growth rate of adult male real wages between 1820-1860 in the U.S.?
a. The growth rate was about the same as it was in pre-Revolutionary U.S. b. The growth rate was negative. c. The growth rate was more than 5 percent per year. d. The growth rate was 1.2-1.6 percent per year.
What is meant by the term double taxation? a. The tax on corporations is double the rate paid by other forms of business. b. The tax on corporations is one-half the rate paid by other forms of business. c. Corporations must pay both federal and state taxes. d. Corporate profits are taxed, and that portion of profits distributed as dividends is taxed as personal income
e. The corporation pays taxes on stocks and bonds.