In a partnership, legal responsibility for all debts is
A) shared by the partners.
B) passed to the shareholders.
C) paid by the principle owner.
D) handled by the bondholders.
Answer: A
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If planned aggregate expenditure (PAE ) in an economy equals 3,000 + 0.75Y and potential output (Y*) equals 12,000, then this economy has:
A. no output gap. B. no autonomous expenditure. C. an expansionary gap. D. a recessionary gap.
Which of the following statements is true?
A. TC = TFC ? TVC B. AVC = TC / Q C. TFC = TC ? TVC D. MC equals the change in ATC divided by the change in Q.
Assume mortgages and houses are complements in consumption; if the price of mortgages decreases (decreases in interest rates), we would expect to see
a. An increase in demand for houses b. An decrease in demand for houses c. An increase in the quantity of houses demanded d. An decrease in the quantity of houses demanded
Holding other factors constant, a decrease in the tax for producing cars causes
a. The supply curve to shift to the left, causing the prices of coffee to rise b. The supply curve to shift to the right, causing the prices of coffee to rise c. The supply curve to shift to the left, causing the prices of coffee to fall d. The supply curve to shift to the right, causing the prices of coffee to fall