A decrease in the level of capital inside a nation would cause the:
A. aggregate demand curve to shift to the right.
B. long-run aggregate supply curve to shift to the left.
C. long-run aggregate supply curve to shift to the right.
D. short-run aggregate supply curve to shift to the right.
Answer: B
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If the rental rate increases, we know that output and labor input will fall in the long run.
Answer the following statement true (T) or false (F)
Rational choices: a. are based on a comparison of total benefits and total costs
b. can only be made by those who are economists. c. are made based on expectations of the additional benefits and additional costs involved. d. measure benefits based on the past.
One trait a central bank has over other businesses including banks is that it:
A. receives all of its funding from the government. B. doesn't have stockholders. C. doesn't have a board of directors. D. can control the size of its balance sheet.
All of the following statements are true about entrepreneurship except:
A. The entrepreneur assembles needed resources. B. The entrepreneur risks her or his own money. C. The entrepreneur reaps the profits or suffers the losses of the enterprise he or she creates. D. The term entrepreneur is synonymous with the term inventor.