Answer the following questions true (T) or false (F)
1. The only type of business that faces limited liability is a partnership.
2. In the United States, sole proprietorship profits are taxed at the business level and then are taxed again as personal income in the form of dividend payments.
3. Corporations are legally owned by their board of directors.
1. FALSE
2. FALSE
3. FALSE
Economics
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The aggregate demand curve is
A) upward sloping. B) a vertical line at potential output. C) a horizontal line at the current price level. D) downward sloping.
Economics
If we observe that when the price of chocolate increases by 10%, total revenue increases by 10%, then the demand for chocolate is unit price elastic
a. True b. False Indicate whether the statement is true or false
Economics