Which of the Following Legal Forms of Business Is Typically

question 50

Multiple Choice

Which of the following legal forms of business is typically considered the least legitimate?

• A) Corporation
• B) Limited liability company
• C) Sole proprietorship
• D) Partnership

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Definitions:

Inflation

A sustained increase in the general price level of goods and services in an economy over a period of time.

Unemployment

The condition of someone being able to work and actively seeking work but unable to find employment.

Natural Rate

A concept referring to the level of unemployment at which inflation is not accelerated, suggesting an equilibrium between demand for labor and supply.

Long-Run Aggregate-Supply

The total quantity of goods and services that producers in an economy are willing and able to supply at a full employment level, regardless of the price level, in the long term.