hey bot answer these questions
Question 1 (1 point)
Three partners have formed a limited partnership with two limited partners each earning 5% of the profits and the general partner earning 90%. While the general partner enjoys greater earnings, what is the disadvantage of being a general partner?
a
The general partner has likely invested more into the business.
b
The general partner has unlimited liability.
c
The general partner has less business experience than the others.
d
The general partner has little control over business decisions.
Question 2 (1 point)
In the market for labor, the demand curve slopes downward. This is due to which of the following facts?
a
Firms will hire fewer workers at lower wages.
b
Higher wages increase the quantity of labor that workers are willing to engage in.
c
Higher wages reduce the quantity of leisure that workers are willing to engage in.
d
Firms will hire fewer workers at higher wages.
Question 3 (1 point)
Which of the following is a realistic concern faced by the owners of sole proprietorships?
a
If the business becomes unprofitable, the general partner will be liable for any payments due.
b
If the business becomes unable to pay its debts, the owner may have to sell personal assets to cover the debt payments.
c
If the business becomes unable to pay its debts, shareholders will have to cover the debt payments.
d
If the business becomes unprofitable, the owner will be held accountable by the board of directors.
Question 4 (1 point)
Explain one way in which hiring an additional worker could lead to an increase in human capital.
a
Hiring an additional worker could lead to an increase in human capital if the worker were to bring new skills and experience that can be taught to other workers.
b
Hiring an additional worker could lead to an increase in human capital if the firm were able to make a profit from the productivity of the new worker.
c
Hiring an additional worker alone will lead to an increase in human capital.
d
Hiring an additional worker could lead to an increase in human capital if the worker were able to produce more output per number of labor hours worked than other workers.
Question 5 (1 point)
Which of the following could explain the relatively high wages earned by certain medical professionals, like nurse practitioners and physicians?
a
The training and certifications required for these professions lead to a relatively high quantity of labor supplied at any given wage.
b
The training and certification required for these professions lead to a relatively low quantity of labor supplied at any give wage.
c
The age of our population leads to a relatively low quantity of labor demanded at any given wage.
d
The age of our population leads to a relatively high quantity of labor supplied at any given wage.
Question 6 (1 point)
If a corporation were interested in raising funds without affecting the level of ownership that each shareholder currently enjoys, which of the following actions might be taken?
a
buying stocks
b
selling shareholder assets
c
selling bonds
d
issuing stocks
Question 7 (1 point)
Identify the definition of the learning effect.
a
the ratio between the number of inputs, or factors of production required to produce a good or service, and the level of output
b
the knowledge and skills a worker gains through education and experience
c
the ratio between total output of goods and services and the number of labor hours worked
d
the method by which education increases productivity and results in higher wages for workers
Question 8 (1 point)
What primary responsibility do the shareholders of a corporation have?
a
hiring management to oversee production
b
providing their own labor for the production process
c
electing a board of directors
d
overseeing production
Question 9 (2 points)
Which of the following are benefits enjoyed by sole proprietorships? Select the two correct answers.
a
unlimited liability
b
low regulatory burden
c
limited liability
d
control of decision-making
e
easy access to credit
The correct answers are d (control of decision-making) and e (easy access to credit).
Question 1: The disadvantage of being a general partner is that b) the general partner has unlimited liability.
Question 2: The demand curve in the labor market slopes downward because d) firms will hire fewer workers at higher wages.
Question 3: A realistic concern faced by the owners of sole proprietorships is b) if the business becomes unable to pay its debts, the owner may have to sell personal assets to cover the debt payments.
Question 4: Hiring an additional worker could lead to an increase in human capital if a) the worker were to bring new skills and experience that can be taught to other workers.
Question 5: The relatively high wages earned by certain medical professionals can be explained by a) the training and certifications required for these professions lead to a relatively high quantity of labor supplied at any given wage.
Question 6: If a corporation were interested in raising funds without affecting the level of ownership that each shareholder currently enjoys, the corporation might consider d) issuing stocks.
Question 7: The learning effect is best defined as b) the knowledge and skills a worker gains through education and experience.
Question 8: The primary responsibility of the shareholders of a corporation is c) electing a board of directors.
Question 9: The benefits enjoyed by sole proprietorships include d) control of decision-making and e) easy access to credit.