Answer the following questions true (T) or false (F)
1. The only type of business that faces unlimited liability is a corporation.
2. In the United States, corporate profits are taxed at the corporate level but are not taxed as personal income in the form of dividend payments.
3. An asset is anything of value owned by a person or firm.
1. FALSE
2. FALSE
3. TRUE
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The increased use of credit cards leads to
A) no movement along the demand curve for money nor a shift in the demand curve. B) a leftward shift in the demand for money curve. C) a rightward shift in the demand for money curve. D) a movement downward along the demand for money curve. E) a movement upward along the demand for money curve.
Consider Frank's decision to go to college. If he goes to college, he will spend $21,000 on tuition, $11,000 on room and board, and $1,800 on books. If he does not go to college, he will earn $16,000 working in a store and spend $7,200 on room and board. Frank's cost of going to college is
a. $33,800. b. $42,600. c. $49,800. d. $57,000.