Which of the following is an advantage of starting a new business as a partnership?
A) Business profits are not taxed.
B) A partnership has few government rules and regulations to comply with.
C) The owners have limited personal liability.
D) A partnership can easily attain additional funding.
B
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Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year three is ________
A) 165 B) 139.8 C) 85.8 D) 133.6 E) 114.6
One drawback of deferred payments is that
A) employees may shirk anyway. B) employers might fire high achievers to avoid paying higher wages or bonuses. C) it is difficult to determine who are the good and who are the bad workers. D) employees have to work for the firm for a long time.
Due to Pigou’s “defective telescopic faculty,” a market economy is inefficient in allocating resources between the present and the future.
Answer the following statement true (T) or false (F)
A newspaper article informs you that most businesses reduced production in the last quarter but also sold from their inventories during the last quarter. Based on this information GDP likely
a. increased. b. decreased. c. stayed the same. d. may have increased, decreased, or stayed the same.