When he invented the cotton gin in 1793, Eli Whitney exhibited
(a) entrepreneurial behavior.
(b) greedy behavior.
(c) selfish behavior.
(d) immoral behavior.
(d)
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A positive nominal interest rate indicates
a. how fast the number of dollars in your savings account is rising over time. b. how fast the purchasing power of your savings account is rising over time. c. the number of dollars in your savings account today. d. the purchasing power in your savings account today.
Like deficit ceilings, debt ceilings are political mechanisms for forcing compromises on how best to use budget surpluses or deficits.
Answer the following statement true (T) or false (F)
Given the table below, what is the marginal cost of the 250th unit of output?
A. $4.00 B. $0.14 C. $7.40 D. $2.40 E. none of the above
Fairness, according to behavioral economics:
A. is too subjective to be considered in the analysis of economic behavior. B. can be objectively standardized across individuals. C. varies from one individual to another but still affects economic behavior in important ways. D. matters to people, but because of self-interest fairness has little effect on their economic decisions.