An LLC Is a Separate Legal Entity and May Own

question 32

True/False

An LLC is a separate legal entity and may own property in its own name.

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Definitions:

Labor Underutilization

A broader measure of unemployment that includes people who are not actively looking for work, but who would work if a job was available, and part-time workers who would prefer full-time positions.

Labor-Force Participation Rate

The rate of the labor force participants who are of working age, encompassing those in employment and those actively searching for a job.

Unemployment Rate

The proportion of the labor force that remains unemployed and is actively looking for ways to gain employment.

Cyclical Unemployment

Unemployment caused by the downturns of the economic cycle, such as recessions.