When a business is owned and operated by a single individual who receives all of the profits and is responsible for all debts, it is known as a
A) partnership.
B) conglomerate.
C) corporation.
D) proprietorship.
Answer: D
Economics
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If expectations are formed rationally, then individuals
A) will have a forecast that is 100% accurate all of the time. B) change their forecast when faced with new information. C) use only the information from past data on a single variable to form their forecast. D) have forecast errors that are persistently low.
Economics
Refer to the data. When two workers are employed:
A. total product is 20.
B. total product is 18.
C. average product is 10.
D. total product cannot be determined from the information given.
Economics