Comparing proprietorships with partnerships, which is TRUE?
A) In both cases, profits are taxed only once.
B) Partnerships outnumber proprietorships 2-to-1 in the United States.
C) Proprietorships generally end with the death of the owner, but partnerships continue as long as at least one partner survives.
D) A proprietor faces unlimited liability for her firm's debts, but in a partnership each partner is only responsible for an even share of the firm's indebtedness.
A
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Your neighbors have offered to pay you to look after their dog while they are on vacation. It will take you one hour per day to feed, walk, and care for the dog, which you can do either before or after you go to work. Your regular job pays $10 per hour, and you can work up to eight hours per day. The smallest amount of money you would accept to look after your neighbor's dog is equal to:
A. $15 per day, because overtime wages are generally 1.5 times your regular wage when you work more than eight hours a day. B. the value of one hour of leisure, which is greater than zero. C. zero, because your regular job is not available for more than eight hours per day. D. $10 per day, because that is your opportunity cost of one hour of work.
The present value of receiving M dollars in year t when the prevailing interest rate is i is equal to
a. M - it b. M ? (1 - i)t c. M/(1 + i)t d. M ? it e. M/it
Recall the Application about the manufacture of fake killer whales used to scare sea lions off the Washington coast to answer the following question(s).Recall the Application. If a fake killer whale to be used to scare sea lions away from steelhead and other threatened and commercially valuable species cost $11,000 for the mold and $5,000 for materials for each fake killer whale made, then the average or per unit cost of producing five fake killer whales would be:
A. $5,000. B. $7,200. C. $11,000. D. $16,000.
Suppose the Swiss franc rises against the British pound but falls against the Japanese yen. What happens to the prices of goods imported into Switzerland?
A. British goods rise in price while Japanese goods fall in price. B. British goods fall in price while Japanese goods rise in price. C. Both British and Japanese goods rise in price. D. Both British and Japanese goods fall in price.