Introduction A corporation is a form of business organization in which ownership is usually represented by transferable stock certificates -Stockholders have limited liability Corporations are independent legal entities · Can make contracts, hold property, incur debt, sue, and be sued
Policy analysis is hard Why is it so hard to tell what's going on with government actions? Consider lowering income tax rates. Will lowering taxes increase work effort and labor supply? · Unlike the physical and natural sciences, difficult to perform carefully controlled experiments on the economy