Which statement about entrepreneurship in America is true?
A. Alexander Graham Bell and Thomas Edison were two of the most famous American inventors who became entrepreneurs.
B. Often the entrepreneur is an innovator.
C. The vast majority of entrepreneurs in America either work for themselves or have just one or two employees.
D. All of the statements are true.
D. All of the statements are true.
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The gold standard
a. has been in operation since the establishment of the Federal Reserve Board b. has been in operation since shortly after World War I c. has been in operation since the Bretton Woods agreement was signed d. was in operation for about 50 years before World War I e. was in operation from the date of the Bretton Woods agreement until the devaluation of the U.S. dollar in 1971
If an excise tax is imposed on restaurant meals,
a. fewer meals will be produced and sold b. more meals will be produced and sold c. the government's tax revenue will fall d. the market price of meals will decrease e. restaurants will sell more meals, but at a lower price per meal
If the NAIRU was 4.8% in 2002 and the actual unemployment rate was 5.8%, what percentage of the labor force could have been put to work without exerting upward pressure on inflation?
A. 1% B. 5.3% C. 1.2% D. 10.6%
Economists use the phrase "network externalities" to describe the role technology plays in explaining why consumers buy products that other consumers are already buying.
a. true b. false