Entrepreneurs bring together the factors of production to produce goods and services
Indicate whether the statement is true or false
TRUE
You might also like to view...
What are the two components of federal spending?
What will be an ideal response?
The main difference between the short run and the long run is that:
A) in the short run all inputs are fixed, while in the long run all inputs are variable. B) in the short run the firm varies all of its inputs to find the least-cost combination of inputs. C) in the short run, at least one of the firm's input levels is fixed. D) in the long run, the firm is making a constrained decision about how to use existing plant and equipment efficiently.
If the Fed purchases securities worth $10 million from a commercial bank, the banking system's balance sheet will show
A) an increase in securities held of $10 million and an increase in bank reserves of $10 million. B) an increase in securities held of $10 million and a decrease in bank reserves of $10 million. C) a decrease in securities held of $10 million and an increase in bank reserves of $10 million. D) a decrease in securities held of $10 million and a decrease in bank reserves of $10 million.
Suppose the federal government passes laws that require banks to disclose the advantages of having their customers use automatic bill paying (an example of a RECAP policy). This would be an example of a:
A. shadow price. B. nudge. C. flawed assumption. D. push.