An advantage of a corporation is that
a. owners have limited liability for debt.
b. the business is subject to little government regulation.
c. owners pay fewer taxes than owners of other forms of business.
d. owners have direct and immediate control over daily management of the business.
Ans: a. owners have limited liability for debt.
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If a measure of real GDP could include the value of leisure time, measured real GDP would increase
Indicate whether the statement is true or false
If marginal cost exceeds average variable cost, then ________ cost is ________ as output increases
A) average total; at a maximum B) average total; falling C) average variable; rising D) average fixed; at a maximum
Some economists have argued that certain characteristics of the delivery of health care justify government intervention. One of these characteristics is
A) health care is nonrivalrous and nonexcludable. B) health care generates negative externalities. C) health care is a public good. D) health care generates positive externalities.
If national saving decreases
A) the sum of domestic investment and foreign investment must increase. B) the sum of domestic investment and foreign investment must decrease. C) foreign investment must increase to cover the loss. D) the sum of domestic investment and net exports must increase.