A difference between a proprietorship and a partnership is that
A) a proprietorship is easy to form while a partnership is hard to form.
B) a proprietorship has only one owner while a partnership has only two owners.
C) a partnership allows for specialization while a proprietorship does not.
D) the profits in a proprietorship are taxed only once while in a partnership they are taxed twice.
Answer: C
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For spring break, Melanie will either stay home or go to Daytona Beach. At home, Melanie pays $10 per day for food and earns $90 a day at her job. At Daytona Beach, Melanie will stay with friends and so has no lodging cost
She will pay $20 per day for food. In terms of dollars, Melanie's opportunity cost per day of going to Daytona Beach is how much?
If your nominal wage rises more slowly than the price level, we can say your real wage has ________ and the purchasing power of a dollar has ________
A) risen; risen B) fallen; risen C) fallen; fallen D) risen; fallen
Which of the following is not an example of a capital good?
a. a pencil sharpener in an office b. an oven in a pizza restaurant c. a sawing machine at a local lumber yard d. a computer in a business e. a teacher's ability to speak two languages
The more the current price exceeds the equilibrium price, the:
A. smaller the resulting shortage will be. B. smaller the resulting surplus will be. C. greater the resulting surplus will be. D. greater the resulting shortage will be.