Which of the following is considered an advantage of a sole proprietorship?

A) easy to raise large sums of capital
B) limited liability for owner
C) profit taxed only once
D) permits effective specialization

Answer: C

Economics

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The division of labor helps to explain why workers do not consume most of what they produce

a. True b. False Indicate whether the statement is true or false

Economics

You are hired by the Council of Economic Advisors (CEA) as an economic consultant. The Chairperson of the CEA tells you that she believes the current unemployment rate is too high. The unemployment rate can be reduced if aggregate output increases. She wants to know what policy to pursue to increase aggregate output by $500 billion. The best estimate she has for the MPC is 0.5. Which of the following policies should you recommend?

A. cut taxes by $200 billion and to increase government purchases by $200 billion B. cut taxes by $200 billion C. increase government purchases by $200 billion D. increase government purchases by $250 billion

Economics