Match the Term with Its Definition

question 95

Multiple Choice

Match the term with its definition.
-A type of corporation that offers limited liability to its owners and passes taxable income or losses on to the stockholders

• A)advisory board
• B)B corporation
• C)C corporation
• D)corporate charter
• E)joint and several liability
• F)partnership
• G)professional corporation
• H)S corporation (Subchapter S corporation)
• I)unlimited liability

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Definitions:

GDP Deflator

An economic metric that converts output measured at current prices into constant-dollar GDP by accounting for inflation.

Real GDP

Real GDP is the total value of all goods and services produced in a country, adjusted for inflation or deflation.

Real GDP

An inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year, expressed in base-year prices, to reveal the true growth rate.

Intermediate Good

A product used to produce a final good or finished product, also known as a semi-finished product.