Determine whether each characteristic describes a sole proprietorship, a general partnership, or a corporation. Note that a characteristic may apply to more than one type of business structure. (2 points) Sole General Proprietorship Partnership Corporation Stocks may be issued to O O O generate income. Liability is unlimited or can be O O 0 unlimited. There are 2 or more owners. O O The Bureau of Labor statistics identifies an occupational trend in the labor market for medical professionals, where wages have increased significantly over the past several years. As a result of this observed occupational trend, more individuals within the economy enter the labor market. How does this influence wages and employment within the labor market? (1 point) O The market equilibrium wage will decrease, and the equilibrium quantity of labor will decrease. O The market equilibrium wage will increase, and the equilibrium quantity of labor will decrease. O The market equilibrium wage will increase, and the equilibrium quantity of labor will increase. O The market equilibrium wage will decrease, and the equilibrium quantity of labor will increase. Which of the following describes the primary difference between craft and industrial unions? (1 point) Workers of a particular trade, not an entire industry, form an industrial union. Workers of a particular trade, not an entire industry, form a craft union. Workers from labor-intensive fields (like manufacturing and agriculture) form craft unions, not industrial unions. Workers from labor-intensive fields (like manufacturing and agriculture) form industrial unions, not craft unions. Explain one way in which hiring an additional worker could lead to an increase in human capital. (1 point) 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. O 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. O Hiring an additional worker alone will lead to an increase in human capital. 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