The ability to organize and meet an objective, such as meeting regulatory and financial requirements to start and run a business, is known as:
A. business sovereignty.
B. democratic capitalism.
C. consumer sovereignty.
D. entrepreneurship.
Answer: D
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Foreign money needed to carry out international transactions is known as _____
A) trade B) import and export C) balance of payments D) foreign exchange.
The above figure shows the supply and demand curves for high-skilled and low-skilled labor. High-skilled workers earn a wage rate of
A) $15 per hour. B) $12 per hour. C) $9 per hour. D) $6 per hour.
Progressive taxes are designed to make higher earners pay ______.
a. a lower percentage but more total taxes than others b. a higher percentage and more total taxes than others c. a higher percentage but less total taxes than others d. the same percentage but more total taxes than others
The merits of a patent system include:
A. the patent system gives firms strong incentives to take the risk of substantial research and development costs. B. the patent system may precipitate the development of new products. C. granting monopoly power through a patent may be beneficial from society's perspective. D. All of these.