The profits of a proprietorship are
A) taxed at the same rate as the owner's other personal income.
B) subject to a corporate tax.
C) taxed as capital gains indexed for inflation.
D) exempt from taxation.
A
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The process in which people seeking higher yielding securities take their funds out of the banking system thus restricting the amount of funds banks can lend is called
A) capital mobility. B) loophole mining. C) disintermediation. D) deposit jumping.
Which of the following conditions during 2008-2009 most closely paralleled the economic conditions of the Great Depression?
a. record-high unemployment rates for a period of many years b. a sharp and prolonged contraction in the money supply c. significant increases in taxes and trade restrictions in order to counter budget deficits d. frequent policy changes that generated an unstable and unpredictable economic climate
Suppose the production function is given by Q = 3K + 4L. What is the marginal product of capital when 5 units of capital and 10 units of labor are employed?
A. 11 B. 3 C. 4 D. 45
In the short-run:
a. All costs are variable b. Some costs are fixed and some costs are variable c. There are no fixed inputs d. The firm is not constrained to vary output