Which of the following is the best example of an activity that would be undertaken by an entrepreneur?
a. Buying and selling of stocks and bonds. b. Starting a new business.
c. Working on an assembly line. d. Running for political office.
b
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In economics, money is defined as
A) any asset people generally accept in exchange for goods and services. B) the total amount of salary, interest, and rental income earned during a year. C) the total value of one's assets minus the total value of one's debts, in current prices. D) the total value of one's assets in current prices.
Which of the following is NOT considered a receipt in the balance of payments?
A) exports of goods B) capital inflows C) import of services D) unilateral transfers to U.S. citizens
In a sequential game, given Mattie's best response function, what would Irene's best response be?
a. Not enter the market b. Enter the market c. Fight d. Run away
The wage rate is constant along a firm's labor demand curve
a. True b. False