Which of the following options is NOT a characteristic of a proprietorship?
A) single ownership
B) unlimited liability
C) double taxation
D) easy to form and dissolve
C
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Use the following graph to answer the next question.
The relationship between the average tax rate and the tax base in a proportional tax would be represented by
A. curve A. B. curve B. C. curve C. D. none of the curves.
Individual investors who always want to hold gold are known as:
A) goldfinger B) golden boys C) gold bugs D) goldilocks
The government heavily subsidizes the production of ethanol to encourage the purchase of ethanol over oil, a less environmentally friendly form of energy. Given that the supply elasticity of ethanol, ?, is estimated to be about 0
13, what would the elasticity of demand, ?, have to be for consumers to receive at least half of the subsidy, and therefore encourage ethanol consumption? A) ? must be less than . B) ? must be greater than . C) ? must be more inelastic than the elasticity of supply. D) Both A and C.
Assuming that wine is a normal good, an increase in consumer income, other things being equal, will:
a. cause an upward movement along the demand curve for wine. b. shift the demand curve for wine to the left. c. cause a downward movement along the demand curve for wine. d. shift the demand curve for wine to the right.