Most economists believe that classical theory describes the world in the short run but not in the long run

The Reagan administration's 1981 personal income tax changes were designed to: a. stimulate aggregate demand and reduce unemployment

b. stimulate aggregate demand and increase economic growth. c. stimulate aggregate supply and increase economic growth. d. decrease aggregate demand in order to reduce inflation. e. increase tax revenues to reduce the federal budget deficit.

You and your roommate plan to start a business after college selling pagers. You have personal assets of $20,000 . and she has personal assets of $15,000 . You plan to invest $12,00 . in the business while she plans to invest $8,000 . If the business

goes bankrupt with assets of $20,00 . and liabilities of $50,000 . describe how much each of you stand to lose if you organize (a) as a partnership, and (b) as a corporation.