Which entity produces the greatest proportion of U.S. gross national product?

Refer to Table 5.1. What is Andrea's opportunity cost of producing one tiara?

A) 1/6 of a bracelet B) 2/3 of a bracelet C) 3 bracelets D) 6 bracelets

Answer the following questions true (T) or false (F)

1. When a business is set up as a sole proprietorship, the owner of the business faces limited liability. 2. The only type of business that faces limited liability is a corporation. 3. In the United States, corporate profits are taxed at the corporate level and then are taxed again as personal income in the form of dividend payments.