Refer to the graph above for a private closed economy. At the equilibrium level of GDP, saving will be:

A major difference between a partnership and proprietorship is that with a partnership,

a. the liability for each individual is limited by the wealth of the others b. the liability for each partner is proportionate to his or her investment c. profits increase with each new partner d. the business has greater investment resources than proprietorships e. only the shareholders face losses

When people speak of the labor force participation rate, they are actually talking about the percentage of

a. people not working but actively seeking work. b. people who are working. c. new entrants into the labor force. d. working-age people who are either working or seeking work.