In a firm, an entrepreneur is one who
A) decides to hire or fire.
B) works for the owner by running the firm.
C) takes the risks associated with a business firm.
D) represents the firm in legal proceedings.
C
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The labor force participation rates of men have gradually increased since 1948
Indicate whether the statement is true or false
Suppose that the technology used to manufacture laptops has improved. The likely result would be:
A. an increase in quantity supplied of laptops. B. a decrease in quantity supplied of laptops. C. a decrease in supply of laptops. D. an increase in supply of laptops.
Which of the following best explains the effect of specialization on production as shown in Exhibit 5?
a. Specialization provides more goods overall to be divided between Techland and Grainsville.
b. By specializing in computers, the people of Techland no longer have grain to consume.
c. Grainsville is an agrarian society and as such does not have a need for computers.
d. Computers are more expensive than grain, so the people of Techland benefit most.
Job openings are plentiful when the
A) actual real GDP is above the natural real GDP. B) natural real GDP is above the actual real GDP. C) natural real GDP is increasing rapidly. D) None of the above.