Proprietorships are
A) the most common form of business organization in the country.
B) responsible for most of the profits in the country.
C) generally large relative to other business organizations.
D) easy to form but difficult to dissolve.
A
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30% of the electric bulbs produced in a factory in Xenonia during a year were found to be defective and could not be sold. Which of the following is likely to happen in this case?
A) Xenonia's GDP will increase. B) Xenonia's trade surplus will increase. C) Xenonia's GDP will remain unchanged. D) Xenonia's GDP will decrease. Jane stitched a prom dress which she could have bought for $180 from a store.
During an economic boom
A) aggregate demand exceeds aggregate supply. B) potential output exceeds quantity demanded. C) actual output exceeds potential output. D) potential output exceeds actual output.