Economists define technology as
A. entrepreneurship.
B. society's knowledge concerning the production of goods.
C. absolute advantage.
D. machines such as computers.
Answer: B
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A shift in the demand curve will occur when
A) supply shifts. B) the price of an input used to produce the good changes. C) consumers' income changes. D) the price of the product changes.
Overall income disparity can be measured by the
A. difference between GDP and GNI. B. growth rate in real GDP. C. Gini Index. D. population growth rate.
Oxnard Rims, Inc., has $5 million in assets and $2 million in debt. During the course of the year, it takes in $1 million in net revenue after deduction of all costs (except for interest) and incurs interest expenses of $500,000. Oxnard Rims, Inc., pays an average tax rate of 35% on its profit. Calculate the percentage return on equity after taxes for the corporation. If the market interest rate is 12.5%, do you think Oxnard Rims pleased its investor for the preceding year?
What will be an ideal response?
A source of business risk is a change in
A) technology. B) consumer preferences. C) input prices. D) All of the above