The psychological rewards of inventing a new product generally result in ____ profits for entrepreneurs.
A. below average
B. only average
C. above average
D. indeterminate
Answer: A
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The relationship between education and productivity is easily quantified because causation clearly flows from education to increased productivity
a. True b. False
By monitoring financial diaries of several of the world's poorest families, economists found that a challenge facing the poor was:
A. they did save any money to pay down debts. B. their income fluctuated a lot, in addition to being low. C. they often did not diversify their savings and had "their eggs all in one basket". D. All of these are true.
In Country Z, every time a poor person earns $100 by working, the person loses $100 in government support. Which term describes the situation faced by this person?
a. Poverty trap b. Budget constraint c. Opportunity cost d. Utility maximization
The accompanying figure shows Becky's daily production possibilities curve for dresses and skirts.
Point T is:
A. both attainable and efficient. B. attainable. C. efficient. D. neither attainable nor efficient.