In popular usage the term investor is used to refer to
a. a speculator in futures markets.
b. a buyer of risky assets.
c. an entrepreneur who purchases machinery and equipment to expand production.
d. individuals whose primary source of income is from returns on financial assets.
b. a buyer of risky assets.
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Which of the following inputs is most likely to be "fixed" in the short run?
A) Labor. B) Capital. C) Energy. D) Raw Material.
William can create 30 meals in one hour, or wash 90 dishes in the same time. Jeremy can create 25 meals in one hour, or wash 50 dishes in one hour. Using opportunity cost, who should specialize in what task?
What will be an ideal response?
The demand curve faced by a perfectly competitive industry
A. slopes downward. B. is horizontal. C. slopes upward. D. has no slope.
The burden of a proportional tax ________ as a percentage of income as income ________.
A. does not change; rises or falls B. rises; rises C. rises; falls D. falls; falls