By definition, a proprietorship is
A. owned by many shareholders.
B. a large manufacturing concern.
C. managed by a large group called the "board of directors."
D. owned by a single individual.
Answer: D
You might also like to view...
What is the difference between the Keynesian and rational expectations theories concerning the success of stabilization policy?
Reduced barriers to trade help explain an increase in U.S. exports and imports relative to GDP since 1950
a. True b. False Indicate whether the statement is true or false
Suppose that an MBA degree creates no externality because the benefits of an MBA are internalized by the student in the form of higher wages. If the government offers subsidies for MBAs, then which of the following statements is correct?
a. The equilibrium quantity of MBAs will equal the socially optimal quantity of MBAs. b. The equilibrium quantity of MBAs will be greater than the socially optimal quantity of MBAs. c. The equilibrium quantity of MBAs will be less than the socially optimal quantity of MBAs. d. There is not enough information to answer the question.
Cal has a choice between two gambles. The first gamble offers a 50 percent chance of winning $20 and a 50 percent chance of losing $20. The second gamble offers a 20 percent chance of winning $100 and an 80% chance of losing $20. Which choice has the higher expected value?
A. The expected value of both gambles is the same, but Cal would prefer the first gamble since the chances of winning are higher. B. The expected value of the first gamble is higher. C. The expected value of the second gamble is higher. D. The expected value of both gambles is the same, so Cal would be indifferent between the two.