The function of an entrepreneur is to:
a. bear business risks
b. organize the other factors of production.
c. innovate.
d. do all of the above.
d
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Which of the following industries was not deregulated during the 1970s and 1980s?
a. airline industry b. auto industry c. banking industry d. trucking industry
How do rising prices slow resource depletion?
What will be an ideal response?
Compared to Canada, France, Germany, Switzerland, and the United Kingdom, the United States
A. had the highest spending per person and the shortest life expectancy in 2016. B. had the lowest spending per person and the shortest life expectancy in 2016. C. had the lowest spending per person and the longest life expectancy in 2016. D. had the highest spending per person and the longest life expectancy in 2016.
A consumer buys only food and clothing. If the quantity of food bought increases while that of clothing remains the same, the marginal utility of food will:
A. fall, but not as fast as the marginal utility of clothing falls. B. rise, but not as fast as the marginal utility of clothing rises. C. rise relative to the marginal utility of clothing. D. fall relative to the marginal utility of clothing.