Which Government Entity Calculates GDP in the United States on a Quarterly

question 1

Multiple Choice

Which government entity calculates GDP in the United States on a quarterly basis?

• A)the Treasury Department
• B)the Commerce Department
• C)the Federal Reserve
• D)all of the above
• E)none of the above

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Definitions:

Professional Corporation

Identical to a business corporation in most respects. A professional corporation is formed by filing with the secretary of state, and it is managed by a board of directors, unless a statute permits it to be managed like a partnership. The rigid management structure makes the professional corporation inappropriate for some smaller professional practices.

Personal Liability

Legal responsibility of an individual to settle debts or legal judgments from their assets, not protected by business structures or limited liability.

Limited Partners

Investors in a partnership who have limited liability to the extent of their investment and are not involved in day-to-day management decisions.

Limited Partnership

A partnership where at least one partner has limited liability for the debts of the business, while at least one other has full liability.