A major disadvantage of a corporation is
a. its weakness at raising funds.
b. its inability to limit the financial liability of the owners.
c. the double taxation of its profits.
d. its lack of continuity in the event of a stockholder’s death.
c. the double taxation of its profits.
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The number of compact discs purchased by a consumer depends on the price of the discs as well as the prices of all other goods purchased.
Answer the following statement true (T) or false (F)
Which of the following professionals is most likely to generate the income of a superstar?
a. the best teacher b. the best dentist c. the best guitar player d. the best airplane pilot
A budget deficit is the
A. annual excess of government spending over revenue raised by taxes, fees, and charges. B. shortfall of Social Security collections toward payment of benefits. C. amount by which tax revenues and borrowed funds fall short of government expenditures. D. excess of tax revenues over expenditures.
Inflation redistributes income from people who do not raise their prices to people who do raise their prices.
Answer the following statement true (T) or false (F)