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.
A
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The figure above shows the demand for fruit snacks. Which movement reflects a decrease in demand?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
The market demand curve is
a. any individual's demand curve multiplied by the number of consumers in the market b. the relationship between income and quantity demanded c. the horizontal sum of the individual demand curves for all consumers in the market d. the vertical summation of all individual demand curves e. the sum of prices paid at each quantity demanded
When the actual rate of unemployment is less than the natural rate of unemployment, the economy
a. operates at an output greater than its long-run potential. b. operates at its maximum sustainable output. c. must also be experiencing stable prices (zero inflation). d. operates at an output less than its long-run potential.
Which statement is true?
A. Since the monopolist is the only firm in the industry, its profit is calculated differently from the way a perfect competitor would calculate profit. B. The monopolist's demand curve and marginal revenue curve are the same line. C. In the long run under monopoly, the most efficient output is the most profitable output. D. A monopolist may lose money in the short-run.