A Federally-Sponsored Program Which Offers Loan Guarantees to Create and Expand

question 33

Multiple Choice

A federally-sponsored program which offers loan guarantees to create and expand businesses in areas with below-average income and high unemployment is called:

• A)the Small Business Administration.
• B)the Economic Development Administration.
• C)SBIC.
• D)the Farmers Home Administration.

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Definitions:

Limited Floor Space

A situation where the available physical area for business operations or inventory storage is constrained.

Machine Hours

A measure of production time, calculated by totaling the amount of time machines are actively running in the production process.

Labour Hours

The total time worked by employees, typically used as a basis for labor cost allocation or productivity measurement.

Total Revenue Curve

A graphical representation that shows how total revenue changes with variations in the quantity of goods or services sold, illustrating the relationship between price and demand.