How does the owner of a sole proprietorship relate to the business?
A) The assets of the owner are considered separate from the assets of the business.
B) The owner and the business are not separate legal entities.
C) The owner and the business are separate legal entities.
D) None of these describe the legal relationship of the owner to the business.
B
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As a whole, nations are better off after trade and specialization because
A) nations can consume along their production possibilities curve, which is outside of their consumption possibilities curve. B) nations can consume along their consumption possibilities curve, which is inside of their production possibilities curve. C) nations experience an inward shift of their production possibilities curve. D) nations can consume along their consumption possibilities curve, which is outside of their production possibilities curve.
Technological progress directly raises output, but also slows capital deepening
Indicate whether the statement is true or false