A legal condition under which any damages or debts incurred by a business are the owner's personal responsibility
What will be an ideal response?
Unlimited liability
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A consumer price index of 160 in 1996 with a base year of 1982-1984 would mean that the cost of the market basket
A) equaled $160 in 1983. B) rose 160% from the cost of the market basket in the base year. C) rose 60% from the cost of the market basket in the base year. D) equaled $160 in 1996.
If a production process creates pollution, a competitive market produces excessive pollution because
A) private marginal cost of pollution exceeds its social marginal cost. B) social marginal cost of pollution exceeds its private marginal cost. C) the marginal benefit of pollution to the firm is zero. D) zero pollution is optimal.
During the most recent recession, many people temporarily lost substantial value in their retirement investment portfolios because most of the assets (including stocks, bonds, and real estate) all declined in value at the same time
In hindsight, what was the problem with these portfolios? A) The portfolios were not adequately diversified because the assets were negatively correlated, so all of the assets had negative returns at the same time. B) The portfolios were not adequately diversified because the assets were more positively correlated than expected, so all of the assets had negative returns at the same time. C) The portfolios were adequately diversified, but the assets should have been more positively correlated to protect against recession risk. D) The investors should not have diversified their investments to protect against recession risk.
One of the distinguishing differences between periods of low inflation and periods of high inflation is that
a. low inflation periods are short-lived. b. high inflation periods are short-lived. c. high inflation periods are long-lived. d. low inflation leads to high inflation.