The controversy about whether entrepreneurs should be judged according to what they do or say originated between
a. Friedman and Hopkins
b. Berle and Means
c. Lester and Machlup
d. Baumol and Galbraith
e. Smith and Thurow
C
You might also like to view...
When the Fed adopts an expansionary monetary policy: a. the demand for investment curve shifts to the left
b. the demand for investment curve shifts to the right. c. there is a downward movement along the demand for investment curve. d. there is an upward movement along the demand for investment curve. e. there is no impact on the demand for investment curve.
Sophia is an architect and she is trying to decide whether to hire Jacob, a draftsman, to assist with her work. Sophia could hire Jacob at $20 per hour but it would take him three times as long to complete a task as it takes Sophia. Sophia is able to earn $90 per hour and has more architectural jobs than she is able to handle. Which of the following is true?
a. Sophia should not hire Jacob because it would be faster for her to do the work herself. b. Sophia should do the drafting work herself because she has the lower opportunity cost. c. Jacob should be hired at the $20 per hour wage rate. d. Jacob should be hired, but only if he is paid more than $30 per hour.
If a t-shirt manufacturer supplies 1,000 t-shirts per week when the price of t-shirts is $10 and supplies 1,200 t-shirts per week when the price of t-shirts is $12, the price elasticity of supply is 2
a. True b. False Indicate whether the statement is true or false
The GDP deflator does not differ from the CPI in its measurement of inflation in that it:
A. is the most widely used measure of price level changes for goods and services for consumers. B. does not include imports, which may have a real effect on the typical consumer's cost of living. C. uses the total quantities that are produced, not the ratio of what a typical consumer might consume. D. measures the price changes of all goods, not just those in a typical consumer's basket.