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Why might a favorable change in the economy, such as technological improvement or a decrease in the price of imported oil, be associated with an increase in frictional unemployment?
Limited Liability Company
Is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Personally Liable
Being directly responsible for an obligation or debt, where one's personal assets can be used to satisfy the liability.
Unlimited Liability
A type of business ownership where the owners are personally responsible for all of the debts of the business, with no limit to this liability.
Limited Liability Company
A business structure in the United States that provides its owners with limited liability while allowing the benefits of pass-through taxation.
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