In the absence of externalities, the optimal distribution of resources occurs when production is at

If firms find that consumers are purchasing more than expected, which of the following would you expect?

A) The economy will adjust to macroeconomic equilibrium as inventories fall, and production and employment fall. B) Aggregate expenditure will likely be greater than GDP. C) Aggregate expenditure will likely be less than GDP. D) The economy will adjust to macroeconomic equilibrium as inventories rise, and production and employment fall.

A ________ is a governance structure where owners are not personally liable

A) sole proprietorship B) partnership C) mixed enterprise D) corporation