The explanation for why marginal cost is positive and rising in the short run is _______ marginal product of labor in the production process.
A) a zero
B) a constant
C) an increasing
D) a diminishing
D) a diminishing
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If an economic agent's returns to entrepreneurship is likely to be lower than his opportunity cost of entrepreneurship:
A) he will choose to be an entrepreneur. B) he will always make profits if he chooses to be an entrepreneur. C) he will always make losses if he chooses to be an entrepreneur. D) he will not choose to be an entrepreneur.
In equilibrium, the real value of household income must equal
A) the real value of output produced by firms. B) the real value of all expenditures. C) the sum of all goods produced in a year. D) net GDP.
Which of the following is most likely to be a reason for immigrants to become entrepreneurs in developing countries?
a. They usually hold government positions. b. They are poorer than the domestic population. c. They are risk-averse. d. They have skills and experience that are lacking in poor nations. e. They quickly assimilate to their new environment.
Briefly describe the two different types of junk bonds (high-yield bonds).
What will be an ideal response?