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Why Might a Favorable Change in the Economy, Such as Technological

question 54

Essay

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?


Definitions:

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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