How do a partnership and a corporation differ?
A) Partnerships have unlimited liability while corporations have limited liability.
B) Corporations can issue stocks and bonds, while partnerships cannot.
C) Corporations face more taxes than do partnerships.
D) All of these are differences between the two types of businesses.
Answer: D
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If future total factor productivity increases
A) labor demand increases. B) government expenses increase. C) consumption demand decreases. D) investment demand increases.
Positive analysis:
A. is the best way to analyze a policy. B. leads to the best solutions. C. is the only way to analyze a policy. D. examines if the policy actually accomplished its goals.
According to Keynesian economists, which of the following is not a consequence of increasing the money supply?
a. A lower interest rate. b. Greater investment. c. Lower real GDP. d. Higher real GDP.
If the price elasticity of demand for tea is unit elastic, a 10 percent increase in the price of tea results in:
a. a 12 percent decrease in the quantity demanded. b. a 12 percent increase in the quantity demanded. c. a 10 percent decrease in the quantity demanded. d. a 10 percent increase in the quantity demanded.