In a steady-state, sustained increases in the capital-to-labor ratio are only possible if
a. the savings rate increases.
b. population growth decreases.
c. depreciation decreases.
d. technology increases.
e. all of the above.
D
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Imports are not included in GDP because they do not reflect output produced within the domestic economy
a. True b. False Indicate whether the statement is true or false
Jeremy is thinking of starting up a small business selling NASCAR memorabilia. He is considering setting up his business as a sole proprietorship. What is one disadvantage to Jeremy of setting up his business as a sole proprietorship?
A) As a sole proprietor, Jeremy would be taxed twice. B) As a sole proprietor, Jeremy would not have control of the business. C) As a sole proprietor, Jeremy would face unlimited liability. D) As a sole proprietor, Jeremy would be subject to significant rules and regulations.