Define a corporation
What will be an ideal response?
A corporation is a legal form of business that provides owners with protection from losing more than their investment should the business fail.
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The multiplier can be calculated by dividing
A. one by one minus the marginal propensity to invest. B. one by one minus the marginal propensity to save. C. the change in real GDP by the initial change in spending. D. the initial change in spending by the change in real GDP.
If the top personal tax rate is higher than the top corporate rate, high income taxpayers have an incentive to _____
a. incorporate b. save c. engage in tax evasion d. purchase stock
An economy could produce above its potential GDP for a short period of time by
a. reducing the size of the labor force. b. increasing the price of final goods and services. c. adding extra shifts of work, such as overtime or night shifts. d. increasing the money supply.
Suppose the government provides a tax cut today that is matched by a tax increase in the future that's equal in present value to the tax cut. This causes a consumer's saving to
A. increase. B. remain unchanged. C. decrease. D. increase if the person was a lender and decrease if the person was a borrower.