... in size/operation, most effective, stocks & bonds, easier to access bank credit, limited liability-disadvantages-legal expenses rise, double taxation (dividends), owners can avoid responsibility for activities (monetary)-unemployment-rise gov't spending, lower taxes, lower interest rates-inflation-higher taxes, higher int. rates, lower gov't spending-federal-most imp source of revenue=personal income tax(48 ... 14 yr. terms)-pres selects chair & v-chair from members (4 yr. terms-can be renewed)- b. board of governors makes policy decisions that provide monetary control of US $ & bank syst...

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• Approx Pages: 3
• Grade Level: High School