How does the owner of a corporation relate to the business?
A) The owners of the business have no separate legal distinction from the business.
B) The owners of the business have a separate legal distinction from the business.
C) The personal assets are part of the corporation's assets.
D) None of these describe the legal relationship of corporate owners to the business.
B
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If interest rates fall without any corresponding change in income, then it is possible according to the IS-LM model that
a. money demand fell and government spending declined. b. the money supply increased and taxes declined. c. tight monetary policy and easy fiscal policy. d. easy monetary policy and easy fiscal policy.
The difference between positive statements and normative statements is that
A) a positive statement involves a value judgment and a normative statement is a statement of fact. B) a positive statement is a statement of fact and a normative statement involves value judgments. C) value judgments are made in normative statements but assumed in positive statements. D) normative statements are provable while positive statements are not.