As economies are predictable, economic risk presents executives with very few challenges.
Indicate whether the statement is true or false.
Answer: False.
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Explain the connection between opportunity cost and the PPF
What will be an ideal response?
Smith says that if government purchases rise by $100 billion, the AD curve will shift to the right. Jones says that if government purchases rise by $100 billion, the AD curve will not shift to the right. It follows that
A) Smith believes there will be zero or complete crowding out and Jones believes there will be complete crowding out. B) Smith believes there will be incomplete or zero crowding out and Jones believes there will be complete crowding out. C) Smith believes there will be complete crowding out and Jones believes there will be zero crowding out. D) Both Smith and Jones believe there will be incomplete crowding out, although Jones believes there will be more incomplete crowding out than Smith believes there will be. E) none of the above
In general, a plot of land goes to
A. whomever the government designates. B. the highest bidder. C. the person who can make the best use of it.
If a firm facing a linear demand curve experiences an increase in total revenue after lowering the price:
A. the initial price was set at a point where the demand is inelastic. B. the initial price was set at a point where the demand is elastic. C. the new price is set where the demand is perfectly elastic. D. the new price is set where the demand is perfectly inelastic.