In the Keynesian consumption function
a. consumption is a constant fraction of income.
b. the marginal propensity to consume is constant.
c. disposable income determines consumption.
d. All of the above
e. None of the above
D
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Refer to Table 18-9. Calculate the income tax paid by Sylvia, a single taxpayer with an income of $70,000
A) $21,000 B) $15,740 C) $15,400 D) $13,475
One disadvantage of a sole proprietorship as a form of business organization is that
a. sole proprietorships cannot lower the transaction costs associated with contracting with resource owners b. sole proprietorships are less efficient than corporations, because they are less specialized in production c. owners of sole proprietorships can lose all their personal assets if the business is sued or fails d. owners of sole proprietorships generally find it difficult to negotiate separation agreements with the other partners in the firm e. owners of sole proprietorships generally have very little control over how they operate their businesses