What does unlimited liability mean?
A) The personal assets of the owners cannot be claimed if the business is bankrupt.
B) Only employees can have a claim on the assets of the business.
C) The owners of the business are personally responsible for paying expenses incurred by the business.
D) Anybody with a liability against a firm can claim up to three times their liability.
C
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Everything else held constant, an increase in the time deposit ratio will mean ________ in the M2 money multiplier and ________ in the M2 money supply
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. Gross national product of this nation will be:
a. $177 billion. b. $259 billion. c. $291 billion. d. $343 billion. e. $323 billion.