Answer the following questions true (T) or false (F)
1. The only type of business that faces limited liability is a partnership.
2. In the United States, sole proprietorship profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments.
3. Corporations are legally owned by their board of directors.
1. FALSE
2. FALSE
3. FALSE
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During a recession, the unemployment rate
A) is, by definition, above 25 percent. B) is, by definition, above 10 percent. C) usually increases but not necessarily to 10 percent or 25 percent. D) remains constant. E) usually decreases.
During an above-full-employment equilibrium, actual GDP is greater than potential GDP
Indicate whether the statement is true or false
If Sabrina exchanges dollars for Japanese yen, she
a. causes the balance of payments to become unbalanced, in the short run b. engages in arbitrage c. supplies yen on the foreign exchange market d. supplies dollars on the foreign exchange market e. first demands dollars then uses them to buy Japanese goods which can be converted into yen
The word futures, as used in commodity markets, refers to
What will be an ideal response?