From the end of World War II until the present, the price level has
a. slowly fallen over time.
b. fluctuated around a downward trend.
c. remained stable throughout the period.
d. fluctuated around an upward trend.
d
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Entrepreneurial judgment requires
a. the ability to use perfect information about the suture to your advantage. b. the ability to discover new approaches or solutions to complex problems. c. the use of government regulations to prevent competition d. that a firm make a profit.
A person is given the opportunity to volunteer at a local food bank. They consider the other things they could do at that time, such as cleaning and watching TV. They know that the work that they do could really benefit people at the food bank, whereas the other activities only benefit themselves. They decide that the service is the best decision for them. What type of ethical theory does their though process and decision follow?
a. rule utilitarianism b. act utilitarianism c. deontological theory d. ethical egoism
Adaptive expectations assumes that individuals
A) can accurately predict the future. B) base predictions on random events (i.e., animal spirits). C) form their predictions of macroeconomic variables randomly. D) use all available information in predicting the future. E) none of the above
Discuss the effects of technological change on the elimination of natural monopolies.
What will be an ideal response?