Assume you set up a sole proprietorship and your lawyer tells you that as the owner, you could stand to lose your personal wealth if the business goes bankrupt. This means a sole proprietorship
A) is not a good type of business to set up. B) faces limited liability.
C) faces unlimited liability. D) has little chance of succeeding.
C
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Explain the credibility theory of the EMS
What will be an ideal response?
Most economists believe there are four reasons the CPI overstates the true inflation rate. List and briefly explain these four reasons
What will be an ideal response?
Suppose a perfectly competitive constant-cost industry is in long-run equilibrium when market demand suddenly falls. What happens to the industry in the long run?
a. It experiences no change form the original equilibrium b. It experiences a higher equilibrium price and produces more output c. It experiences a lower equilibrium price but produces more output d. It experiences the same equilibrium price but produces more output e. It experiences the same equilibrium price but produces less output
Less than 13 percent of U.S. workers belong to unions.
Answer the following statement true (T) or false (F)