In a partnership, the owners of the business and the business are ________, and in a sole proprietorship, the owner of the business and the business are ________
A) separate legal entities; also separate legal entities
B) not separate legal entities; also not separate legal entities
C) not separate legal entities; separate legal entities
D) separate legal entities; not separate legal entities
Answer: B
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Which of the following is not a reason for firms to choose a salary system rather than a commission system to compensate their employees?
A) If workers are paid on the basis of the number of units of output they produce, they may become less concerned about quality. B) Commission compensation systems are riskier for employees than a salary system, and many workers dislike risk. C) Research has shown that most companies will find that a salary system will be more profitable than a commission system. D) It is often difficult to attribute output to particular workers.
What ratio defines the standard of living?
A) (Y/N) B) (Y/K) C) (Y/A) D) (Y/Q)
Through collective bargaining,
a. representatives of an employer negotiate with the rank and file of the union membership b. union and nonunion members combine forces in negotiation c. craft and industrial unions combine forces in negotiation d. contracts are worked out between representatives of the union and employer representatives e. union workers must accept contracts negotiated by their representatives
You have won a lottery prize that promises to pay you and your descendants $1,000 a year forever. If the lowest price you are willing to sell this perpetuity for is $20,000, then you must be assuming that the relevant interest rate is
a. 5% b. 10% c. 15% d. 20%