If a general partnership fails, who is responsible for the debts?
a. anyone who works for the partnership
b. all the partners
c. only the most senior general partner
d. no one
Ans: b. all the partners
Economics
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The relationship between planned real consumption expenditures of households and their current level of real disposable income is
A) the consumption function. B) saving. C) dissaving. D) investment.
Economics
In his book The Wealth of Nations, Adam Smith employed the example of a pin factory in order to explain what economic concept?
A) why no firm would want to hire so many workers as to experience a negative marginal product of labor B) the relationship between the marginal and average product of labor C) the law of diminishing returns D) the division of labor
Economics