An advantage of a partnership over a proprietorship is
A) limited liability.
B) that profits are not taxed twice.
C) the ability to take advantage of greater specialization.
D) that it is easier to dissolve.
C
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The above figure shows the market for neckties. Based on the graph, how much tax per necktie has been imposed by the government?
A) $1.25 per tie B) $1.00 per tie C) $0.75 per tie D) More information is needed to determine the tax that the government has imposed.
Refer to Table 4-4. If a minimum wage of $9.50 an hour is mandated, what is the quantity of labor demanded?
A) 380,000 B) 370,000 C) 360,000 D) 10,000
Which of the following situations is one in which the Fed will potentially pursue expansionary monetary policy?
A) Aggregate demand is growing too fast to keep the economy at full employment. B) Potential GDP is forecasted to be lower than equilibrium GDP. C) Potential GDP is forecasted to be higher than equilibrium GDP. D) Aggregate demand is growing too slowly and the economy is in danger of producing GDP above full employment.
A secondary boycott is
A) illegal according to the Taft-Hartley Act. B) a legal way to support striking workers. C) illegal according to the Wagner Act. D) legal according to the Sherman Act.