Which One of the Following Is a Criterion for Identifying

question 41

Multiple Choice

Which one of the following is a criterion for identifying a primary government?

• A) it has an appointed board of directors.
• B) it is fiscally dependent.
• C) it is a local government.
• D) it has a separately elected governing body.
• E) it must prepare financial statements.

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Definitions:

Specialization

The process of focusing on a limited range of goods or services to gain efficiency or expertise.

Trading Partners

Countries, organizations, or individuals that engage in the exchange of goods, services, or information.

Joint Output

Products or services that are produced together in the course of a single production process, often resulting in a correlation between their quantities or prices.

Comparative Advantage

The ability of a country or entity to produce a good or service at a lower opportunity cost than others.