The Average Annual Growth Rates of Labor Productivity from 1948

question 79

Multiple Choice

The average annual growth rates of labor productivity from 1948 to 1973 were ______ the average rates over the period from 1973 to 1995.

• A) more rapid than
• B) slower than
• C) about the same as
• D) more rapid in the U.S., but slower in other industrialized countries than

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Definitions:

Limited Liability Company

A Limited Liability Company (LLC) merges the partnership or sole proprietorship's benefit of pass-through taxation with a corporation's feature of limited liability.

Business Form

The legal structure or organization of a business, such as sole proprietorship, partnership, corporation, or limited liability company (LLC).

S Corporation

A designation for a corporation that meets specific Internal Revenue Service criteria, allowing it to be taxed as a pass-through entity, thereby avoiding the double taxation typically applied to corporations.

Purported Partnership

The appearance of partnership when there is no partnership; it arises when a person misleads a second person into believing that the first person is a partner of a third person; a theory that allows the second person to recover from the first person all reasonable damages the second person has suffered due to his reliance on the appearance of partnership.