A tax for which the rate varies directly with the income of the person taxed is known as a(n):

The owners of a ________ have a separate legal distinction from the business

A) partnership B) sole proprietorship C) corporation D) All of the above are correct.

Suppose that the Fed decides to increase the growth rate of the money supply in the United States. What is most likely to happen to the U.S. trade deficit and to GDP?

a. The trade deficit will fall; GDP will fall. b. The trade deficit will rise; GDP will rise. c. The trade deficit will fall; GDP will rise. d. The trade deficit will rise; GDP will fall.