The USSystem of National Income Accounts Was Started in the

question 138

Multiple Choice

The U.S.system of national income accounts was started in the

• A) late 1800s to measure the effects of rapid industrialization
• B) mid-1910s to measure the effects of World War I on the economy
• C) early 1930s to keep track of national income and output
• D) early 1940s to keep track of output during World War II
• E) early 1950s to measure changes in post-World War II output and income

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Definitions:

Partnership

A form of business where two or more people agree to contribute resources to start and operate a business together.

Entrepreneur

An individual who creates, organizes, and operates a business venture, taking on greater than normal financial risks in order to do so.

Business Plan

A formal document detailing a business's objectives, strategies, target market, and financial projections.

Limited Liability Corporation

A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.