Which one of the following statements about public debt is most accurate?
a. Because rich and poor people hold government bonds, they are equally affected by the debt.
b. Wealthy people are more likely to hold government bonds, and so they are less likely to be adversely affected by the debt
c. Wealthy people are less likely to hold government bonds, and so they are more likely to be adversely affected by the debt.
d. Poor people are more likely to hold government bonds, and so they are more likely to be adversely affected by the debt.
e. Poor people are less likely to hold government bonds, and so they are less likely to be adversely affected by the debt.
B
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In the table above, country A is producing 4 units of X and 8 units of Y and country B is producing 4 units of X and 6 units of Y. Regarding the production of good X
A) country A has an absolute advantage. B) country B has an absolute advantage. C) country A has a comparative advantage. D) country B has a comparative advantage.
Torrie is thinking of starting up a small business selling hand-painted wine glasses. She is considering setting up her business as a sole proprietorship. What is one advantage to Torrie of setting up her business as a sole proprietorship?
A) As a sole proprietor, Torrie would have the ability to share risk with shareholders. B) As a sole proprietor, Torrie would face limited liability. C) As a sole proprietor, Torrie would have both ownership and control over the business. D) All of the above would be advantages of setting up her business as a sole proprietorship.