When Did the GNP of the European Community Surpass That

question 58

Multiple Choice

When did the GNP of the European Community surpass that of the United States?

• A)1949
• B)1959
• C)1969
• D)1979
• E)1989

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Definitions:

Proprietorship

A business owned and run by one individual, where there is no legal distinction between the owner and the business.

Corporation

A legal entity separate from its owners that is authorized to conduct business, own assets, incur liabilities, and pay taxes.

Limited Liability

A legal structure that limits the personal financial risk of the business owners, protecting their personal assets from the debts and liabilities of the business.

Sole Proprietorship

A business owned and operated by a single individual, with no distinction between the business and the owner.