Which of the following is true about sole proprietorship in the United States?
a. It is the most common form of business organization.
b. It is responsible for a large portion of total production of goods and services.
c. It offers the owner the least personal liability of any form of business organization.
d. There is no opportunity cost to operating the business.
e. Only one individual can work in such a firm.
A
You might also like to view...
Customer discrimination against black investment advisers ________ the salaries of black investment advisors and ________ the number of black investment advisers
A) decreases; decreases B) decreases; does not change C) does not change; decreases D) does not change; does not change
Typically, consumers respond to an increase in (expected) future income by ________
A) shifting the budget constraint to the left B) increasing both current and future consumption C) saving more to increase future wealth D) waiting until the income is received before changing their consumption behavior
When the economy is operating at an output rate less than full-employment capacity,
a. a strong demand for resources will cause resource prices to rise. b. actual unemployment will be less than the natural rate of unemployment. c. the rate of inflation will tend to rise. d. weak demand for investment will place downward pressure on real interest rates.
If, at a low cost, you cannot prevent a person from benefiting from the consumption of a good you produced, the good is
A. nonexcludable. B. nonrival in consumption. C. excludable. D. rival in consumption.