An advantage of the proprietorship as a form of business organization is
A) its limited liability.
B) its limited access to capital, thus reducing the possible size of debt.
C) that it is easy to form.
D) that it can sell bonds to the public.
C
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Suppose your state government could undertake some measures that would improve the safety of highways within the state. If the goal is to use resources efficiently, how many of the measures should be undertaken?
a. all of them b. all measures up to the point at which the marginal social benefit from safety improvements equals the marginal social cost c. all measures for which the marginal social benefits from safety improvements are greater than zero d. all measures for which the marginal social benefit from safety improvements is at least as great as what motorists have reported they would be willing to pay
A key assumption in the classical model is
A) sticky wages. B) pure competition exists. C) sticky prices. D) the government plays a major role in economic problems.