By definition, a proprietorship is
A) owned by many shareholders.
B) a large manufacturing concern.
C) owned by a single individual.
D) managed by a large group called the "board of directors."
Answer: C
You might also like to view...
The table gives data on the production and prices in a small economy. Use 2012 as the base period
a. What does nominal GDP equal in 2012? b. What does real GDP equal in 2012? c. What does nominal GDP equal in 2013? d. Using the chained-price method, what does real GDP equal in 2013?
Which of the following is NOT a criticism of international institutions such as the IMF, the World Bank, or the WTO?
A) They lack openness in their decision-making process. B) They violate national sovereignty by imposing unwanted domestic policies. C) They fail to understand the effects of their policies on the vulnerable. D) Their decision making is biased in favor of underdeveloped nations and against the interests of nations already industrialized. E) They ignore potentially large adjustment costs for developing nations of implementing their policies.
A decrease in the expected future price level: a. Shifts both SRAS and LRAS to the left
b. Shifts both SRAS and LRAS to the right. c. Shifts SRAS left but leaves LRAS unchanged. d. Shifts SRAS right but leaves LRAS unchanged.
Equilibrium occurs when the aggregate demand curve intersects the aggregate supply curve.
Answer the following statement true (T) or false (F)