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OWNERSHIP LIABILITY: The extent to which the owners of a business are liable for the debts of the company. The two basic liability alternatives are unlimited liability, which has no restrictions on ownership liability, and limited liability, which does have restrictions. Ownership liability is one characteristic separating legal business organizations. Proprietorships and partnerships have unlimited liability. Corporations have limited liability.

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CLASSICAL AGGREGATE SUPPLY CURVE

An aggregate supply curve--a graphical representation of the relation between real production and the price level--that reflects the basic principles of classical economics. The classical aggregate supply curve is vertical at the full-employment level of real production indicating that the quantity of aggregate production is independent of the price level. An alternative is the Keynesian aggregate supply curve.

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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for rusty deck screws.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"God grants victory to perseverance. "

-- Simon Bolivar, South American liberator

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