In the early 1800s, many state legislatures began to pass general incorporation laws, which
A) made it harder for firms to organize as corporations.
B) allowed sole proprietorships and partnerships to issue stock.
C) allowed firms to more easily be organized as corporations.
D) granted sole proprietorships and partnerships limited personal liability.
C
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Which of the following best describes rational behavior?
a. analyzing the total expected costs of a decision b. analyzing the total expected benefits of a decision c. Continuing to undertake an activity until its total expected benefit no longer exceeds its total expected cost d. undertaking activities as long as the marginal expected benefit exceeds the marginal expected cost
The United States is a net borrower. If its budget deficits rise faster than GDP, the national debt will:
A. increase both in terms of dollars and as a percentage of GDP. B. decrease both in terms of dollars and as a percentage of GDP. C. increase in terms of dollars but decrease as a percentage of GDP. D. decrease in terms of dollars but increase as a percentage of GDP.
If it is impossible or very costly to prevent someone from benefiting from a good even if the person does not pay for it, the good is
A) nonrival. B) nonexcludable. C) pure. D) rival.
According to economic analysis, while making a decision, an individual compares the benefits expected from one option with the benefits expected from other options
a. True b. False Indicate whether the statement is true or false