Entrepreneurship refers to:
A.) Natural resources, such as land and water.
B.) Computer technology.
C.) Skilled labor.
D.) Ability to see market opportunities and the will to take risk
D.) Ability to see market
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Because of the income effect, a higher wage rate
A) shifts the supply of labor curve leftward. B) shifts the supply of labor curve rightward. C) leads to a decrease in quantity of labor supplied. D) leads to an increase in quantity of labor supplied.
Income and wealth were equally or evenly distributed by 1860 in the United States
Indicate whether the statement is true or false
Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. The restrictive monetary policy followed by the Fed. b. Government spending was increased by only a small amount. c. The temporary nature of the tax rebates and spending increases created uncertainty and exerted only a weak impact on aggregate demand. d. The budget deficits were too small to exert much impact on aggregate demand, output, and employment.
When a firm increases output and accepts a lower price to keep new firms from entering, it is engaging in:
A. limit pricing. B. cartel behavior. C. collusion. D. price fixing.