In the early stages of development, educational spending should be focused on

Which statement is FALSE considering both advantages and disadvantages of corporations as a legal business organization?

A) Perhaps the greatest advantage of corporations is that their owners (the shareholders) enjoy limited liability—limited to the value of their shares. B) Legally the corporation continues to exist even if one or more owners cease to be owners. C) Corporations usually are not as well positioned as proprietorships and partnerships to raise large sums of financial capital. D) Separation of ownership and control is a disadvantage of the corporate structure; owners and managers may have different incentives.

With regard to exchange rate determination, the law of one price is a useful theory only when applied to:

A. long-run periods of time. B. forward exchange rates. C. futures contracts. D. very short-run periods of time.