A business that is jointly owned by two or more people is called a:
a. partnership
b. nonprofit
c. nonprofit
d. sole proprietorship
Ans: a. partnership
You might also like to view...
Refer to Figure 2-5. If the economy is currently producing at point X, what is the opportunity cost of moving to point W?
A) 5 million tons of paper B) 3 million tons of steel C) 9 million tons of paper D) 19 million tons of steel
Which of the following best describes compensating wage differentials?
a. Some jobs are more difficult than others, and the pay for them reflects this. b. Some jobs require more training than others, and the pay for them reflects this. c. Some jobs require more experience than others, and the pay for them reflects this. d. Some jobs require unique abilities, and the pay for them reflects this.
Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending.
A. is authorized by Congress on an annual basis B. has been authorized by prior law C. is authorized only in times of budget surpluses D. is authorized only in times of budget deficits
A Chinese worker started working in the U.S. and earned an income of $10,000 during a certain year. This will lead to a(n) ________ in the same year
A) increase in the GDP of U.S B) increase in the GNP of U.S. C) decrease in the GDP of China D) increase in the GDP of China