All of the following are advantages of organizing a business as a sole proprietorship EXCEPT
A. limited liability.
B. ease of decision-making.
C. single taxation.
D. ease of formation.
Answer: A
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For the CPI, the market basket of goods and services is modified
A) each time the Consumer Expenditures Survey is conducted. B) about every 10 to 20 years. C) each month when the Price Survey is completed. D) each year to reflect changes in consumer purchasing habits. E) at the discretion of the President.
Which of the following is not a Eurocurrency claim?
A) A U.S.-dollar deposit by a London firm in a Cleveland bank B) A sterling deposit by a London firm in a New York bank C) A U.S.-dollar deposit by a London firm in a London bank D) A Yen deposit by a New York firm in a London bank
Assuming a horizontal aggregate supply curve, output will change when
a. monetary or fiscal policy changes. b. monetary policy changes. c. fiscal policy changes. d. capital, labor, or technology changes. e. all of the above
Jimmy’s java shop operates in a monopolistically competitive market. Jimmy’s current output is where average costs are minimized. If this is the case, we would expect Jimmy to
A. increase output and lower price. B. decrease output and Jimmy’s average costs would increase. C. continue production at the current level as Jimmy’s is operating at his best outcome. D. increase output and Jimmy’s average costs would decrease.