A major problem of owning a corporation is unlimited liability.
Answer the following statement true (T) or false (F)
False
A corporation is a limited liability form of business. The corporation itself, not its individual shareholders, is responsible for all business activity and debts.
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
Social savings is
A. just another way of defining security. B. the sum of government and private savings. C. government savings only. D. defined by higher rates of interest for the government.
Refer to the accompanying figure. Moving from demand curve D1 to demand curve D2 could be caused by a(n):
A. increase in the price of a close substitute. B. increase in the price of a complement. C. decrease in the product's expected future price. D. increase in quantity supplied.
If prices in the current year are higher on average than in the base year, real GDP in the current year ________ nominal GDP in the current year.
A. could be greater than or less than B. is less than C. is equal to D. is greater than