A positive economic statement must be verifiable
a. True
b. False
Indicate whether the statement is true or false
True
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Answer the following statements true (T) or false (F)
1. The biggest disadvantage of a sole proprietorship is the lack of distinction between the business and the owner. 2. In a partnership, each partner’s liability is limited to his or her contribution to the partnership. 3. The board of directors has unlimited financial liability for the debts of the corporation. 4. A corporation can raise money by selling stock or bonds.
The quantity of money in circulation in the United States is managed by
A) The Securities Exchange Commission. B) The United States Treasury. C) The Federal Reserve System. D) Wall Street.
A legal maximum on the price at which a good can be sold is called a price
a. floor. b. subsidy. c. support. d. ceiling.
The Federal Reserve System began operations in
A) 1834. B) 1896. C) 1914. D) 1935.