Which of the following is NOT a characteristic of a corporation?
A) limited liability for shareholders
B) double taxation
C) separation of ownership problems
D) limited ability to raise capital funds
Answer: D
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The unreported or illegal production of goods and services in the economy that is not counted in GDP is termed:
a. money laundering. b. the underground economy. c. disposable personal income. d. indirect national income. e. unreported capital consumption.
Unrestrained monopolies are criticized because they restrict output and reduce innovation.
Answer the following statement true (T) or false (F)
Inspired by the beautiful private tennis courts of some of its residents, the town of Lakeland built a pristine tennis park with five courts. Within three years the nets had been torn down, trash was piled everywhere, and graffiti was written on the courts. This story demonstrates the concept of the ______.
a. lemon problem b. tragedy of the commons c. moral hazard d. adverse selection
If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the Italian current account balance ________, and the Italian financial account balance ________.
A. rises; is unchanged B. is unchanged; rises C. is unchanged; is unchanged D. rises; rises