An advantage of the corporate form of business organization is
A. easier access to capital.
B. government supervision of its activities.
C. that profits are taxed only on one level.
D. unlimited liability.
Answer: A
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If the value of the price elasticity of demand is -0.2, this means that a
a. 20 percent decrease in price causes a 1 percent increase in quantity demanded b. 0.2 percent decrease in price causes a 1 percent increase in quantity demanded c. 5 percent decrease in price causes a 1 percent increase in quantity demanded d. 0.2 percent decrease in price causes a 0.2 percent increase in quantity demanded e. 100 percent decrease in price causes a 200 percent increase in quantity demanded
Using income tax revenue to fund the welfare system illustrates the conflict between efficiency and equality
a. True b. False Indicate whether the statement is true or false