A sole proprietorship is limited to how many owners?
A) 1
B) 2
C) 10
D) There is no limit to the number of owners.
Answer: A
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Which of the following would be shown on IBM's accounting statement?
a. revenue, implicit costs, explicit costs, and economic profit b. revenue, implicit costs, explicit costs, and accounting profit c. revenue, explicit costs, and economic profit d. revenue, explicit costs, and accounting profit e. revenue, implicit costs, and accounting profit
A graph that shows all the equally preferred combinations of two goods is called a(n)
a. demand curve b. supply curve c. consumer surplus curve d. equalization curve e. indifference curve
When the official dollar price of a foreign currency is set below its equilibrium level, the foreign currency
A) has been depreciated. B) is overvalued. C) is undervalued. D) is devalued. E) is revalued.
Which of the following workers is least likely to lose his/her job during a recession?
A. A roofer B. A carpenter C. A police officer D. An automobile assembly worker