Owners of a corporation have limited liability for the debts of the business
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose Richard Branson withdraws $5 million from his checking account at Bank of America. If the required reserve ratio is 25%, what is the maximum change in deposits in the banking system?
A) -$25 million B) -$20 million C) -$5 million D) -$1.25 million
Statistics on families below the poverty line may be overstated because:
a. the poor are primarily children who soon will move out of poverty. b. poverty in the United States is rich compared to poverty in other nations. c. the income levels used to measure poverty do not include in-kind transfers. d. unemployment compensation is a program closed to the poor.
A Principles of Microeconomics professor wants to know how much prior knowledge her students have before beginning the class so she gives them a pre-test. This action is an example of
a. signaling. b. screening. c. adverse selection. d. moral hazard.
One major aspect of the sociocultural-political environment of the United States that has generally been conducive to economic growth is the:
A. favorable attitude toward work and risk-taking. B. denial of the rights of property ownership. C. enforcement of contracts by the market. D. strict social regulation of production and progress.