Which of the Following Statements Is True of Small Business

question 39

Multiple Choice

Which of the following statements is true of small business hiring of employees?

• A) Adding an employee to a small business is simple decision.
• B) The cost of adding an employee is composed only of the additional salary.
• C) Of the 28.2 million businesses in the U.S.in 2012,over 22.3 million businesses had one or more employees.
• D) Those firms that hire employees are an important source of job generation.

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Definitions:

Technological Change

Technological Change refers to advancements and innovations in technology, which can significantly impact productivity, economic growth, and the way society operates.

Labor Supply Curve

A graphical representation that shows the relationship between the quantity of labor supplied and the wage rate.

Technological Progress

The advancement in technology which increases production efficiency and productivity.

Wage Rate

The amount of compensation an individual receives per unit of time for their labor.