The marginal productivity standard of income distribution:
a. provided maximum incentive for productivity
b. requires government redistribution of income
c. is based on the theory that a dollar income provided greater utility to a poor person than a rich person
d. all of the above
Answer: a. provided maximum incentive for productivity
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Federal Reserve liabilities and capital accounts are equal to
A) Federal Reserve assets. B) gold certificates + Federal Reserve notes. C) Federal Reserve notes outstanding. D) bank reserves + government securities.
An increase in consumer income will shift both the supply and demand curves.
Answer the following statement true (T) or false (F)
The motivations of buyers & sellers & their negotiation abilities have __________ in the price formation process
Fill in the blank(s) with the appropriate word(s).
Assume you and your cousin Vinny set up a partnership and your lawyer tells you that as the owners you will each face unlimited liability. What does that mean?
A) You are each liable for organizing the business. B) Each of you could stand to lose your personal wealth if the business goes bankrupt. C) There is no legal responsibility of the business in case a customer sues, as the business is legally untouchable. D) None of these explain what unlimited liability means.