The only type of business that faces limited liability is a partnership
Indicate whether the statement is true or false
FALSE
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Business cycles are recurring periods of economic growth and decline in an economy's real GDP
a. True b. False Indicate whether the statement is true or false
Which of the following would not affect an individual's demand curve?
a. expectations
b. income
c. prices of related goods
d. the number of buyers
The benefits-received principle of taxation is used to support corporate and personal income taxes.
Answer the following statement true (T) or false (F)
Country A can product 100 units of Good X in a day and 40 units of Good Y while Country B can produce 50 units of Good X and 40 units of Good Y.
A. These countries should trade since Country B has a comparative advantage in the production of Good X and Country A has a comparative advantage in the production of Good Y. B. These countries should trade since Country A has a comparative advantage in the production of Good X and Country B has a comparative advantage in the production of Good Y. C. These countries will not trade since Country A has a comparative advantage in the production of both goods. D. These countries will not trade since Country A will always be able to take advantage of Country B.