Of the owners of the following firms, which does NOT have unlimited liability for the business' debts?
A) Roy Ray's Grocery Store, Roy Ray, proprietor
B) the partnership of Reese and Jones, Attorneys-at-Law
C) the Microsoft Corporation
D) Wren's Feed and Seed Store, a proprietorship
Answer: C
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A key benefit for nations in a politically integrated currency union such as the United States is the existence of fiscal federalism. What is the status of fiscal federalism in the Eurozone?
A) It is almost nonexistent because few fiscal transfers take place. B) It is thriving and encompasses many aspects of the economy. C) Most believe it currently lags the United States, but the situation is very fluid and will change soon. D) Fiscal federalism is a concept that has relevance only in the United States because each Eurozone nation is completely independent.
Which of the following would shift a nation's production possibilities frontier outward?
A) discovering a more efficient process to desalinate water B) an increase in the minimum wage C) a decrease in the unemployment rate D) more restrictive immigration policies