In order to prosper, entrepreneurs in a market economy must
What will be an ideal response?
undertake projects that create wealth and increase the value of resources.
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The supply of loanable funds schedule shows that the
A) higher the real interest rate, the more the supply of loanable funds curve shifts rightward. B) higher the real interest rate, the greater the quantity of loanable funds supplied. C) higher the real interest rate, the greater the opportunity cost of supplying loanable funds. D) higher the real interest rate, the lower the profit from making new investment. E) lower the real interest rate, the greater the quantity of loanable funds supplied.
Automobile manufacturers view the assembly-line workers as
A) capital services. B) labor services. C) materials. D) None of above.
Which of the following statements is true?
a. The elasticity of demand for a product cannot change over time. b. Elasticity is useful in theory but cannot be measured in real life. c. The elasticity of demand will be larger if there are good substitutes available. d. If I can't live without the product, my demand will be elastic. e. none of these are true
When a rational consumer has stopped buying, she or he will have allocated a limited budget so that the marginal utility per good will be the same.
Answer the following statement true (T) or false (F)