If a general partnership fails, who is responsible for the debts?
a. anyone who works for the partnership
b. all the partners
c. only the most senior general partner
d. no one
Ans: b. all the partners
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Each point on a ________ curve shows the willingness of consumers to purchase a product at different prices
A) production possibilities B) marginal cost C) demand D) supply
An increase in lifetime wealth
A) increase current labor supply and increase current consumption demand. B) increase current labor supply and decrease current consumption demand. C) decrease current labor supply and increase current consumption demand. D) decrease current labor supply and decrease current consumption demand.
Automatic stabilizers act to moderate business cycles primarily through the personal income and consumption channels
a. True b. False Indicate whether the statement is true or false
Which scenario best demonstrates how money acts as a store of value?
a. Tran knows a bottle of water is $1 and a birthday card is $2, so a birthday card has the same value as two bottles of water. b. Natalie buys a new leather purse and a button-down blouse from her favorite boutique for $150. c. Gabe borrows money from his mother to fix his car and gives her money every month until he has repaid her. d. Anya buys a certificate of deposit, which she plans to cash in several years after she retires.