Of the owners of the following firms, which does not have unlimited liability for the business' debts?
A) Roy Ray's Grocery Store, Roy Ray, proprietor
B) the partnership of Reese and Jones, Attorneys-at-Law
C) the Huber Corporation
D) Wren's Feed and Seed Store, a proprietorship
C
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Runs on banks occur when
A) banks keep 100 percent of their deposits on hand. B) depositors are confident that the bank will not go bankrupt. C) banks make an unusually high number of profitable loans. D) many depositors attempt to withdraw their funds simultaneously.
When the real interest rate rises
A) there is a downward movement along the demand for loanable funds curve. B) there is an upward movement along the demand for loanable funds curve. C) the demand for loanable funds curve shifts rightward. D) the demand for loanable funds curve shifts leftward.
In the above figure, the economy would most likely move from AD1 to AD2 because of
A) an aggregate supply shock. B) an aggregate demand shock. C) a recession. D) a depression.
A major problem with using the egalitarian principle to distribute income is that
A) it would eliminate the incentives that rewards provide in an economic system. B) it is difficult to know when an equal distribution of income has been achieved. C) it would not be fair to the wealthy. D) there exist no mechanisms to carry out such a scheme.