In a partnership, debts accumulated by one partner
A. are the responsibility of that partner only.
B. are the responsibility of the other partners only up to the amount each partner initially invested in the partnership.
C. are the responsibility of the other partners as well.
D. are the responsibility of all the employees of the partnership, regardless of whether those employees are partners.
Answer: C
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People who consent to bear costs for the benefit of others whom they do not know personally usually do so
A) because they are concerned about the welfare of society. B) because they have been offered some benefit as an inducement. C) only when they are compelled by force. D) without calculating the costs to themselves.
Why would a firm continue to pollute even when it is fined (taxed) for doing so?
What will be an ideal response?
More recent studies of new Keynesian inflation dynamics indicated that the average price-adjustment intervals in the United States are
A) are one year or less. B) two years or less. C) four years or less. D) more than four years.
Table 1.1 shows the hypothetical trade-off between different combinations of Stealth bombers and B-1 bombers that might be produced in a year with the limited U.S. capacity, ceteris paribus.Table 1.1Production Possibilities for BombersCombinationNumber of B-1 BombersOpportunity cost(Foregone Stealth)Number of Stealth BombersOpportunity cost (Foregone B-1)S0NA10 T1 9 U2 7 V3 4NAThe highest opportunity cost anywhere in Table 1.1 for Stealth bombers in terms of B-1 bombers is
A. 1 B bombers B. 0.5 B bombers C. 3 B bombers D. 2 B bombers