Economists assume that the typical person who starts her own business does so with the intention of
a. donating the profits from her business to charity.
b. capturing the highest number of sales in her industry.
c. maximizing profits.
d. minimizing costs.
c
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If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do
in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016? A) The BLS will not change the growth rate of productivity. B) The BLS will adjust the growth rate downwards. C) The BLS will adjust the growth rate upwards. D) The BLS will adjust the level of labor productivity upward and the growth rate downward.
The formula for finding the present value of an amount M that will be received one year from now, when the interest rate is R, is
A) M × (1 + R/100). B) M × (1 + R). C) M / (1 + R). D) M / R. E) M / (100R).
When two variables have a direct relationship, the slope is
A) negative. B) positive. C) zero. D) infinity.
If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if
a. x increases by 4, y increases by 8 b. x increases by 4, y increases by 2 c. y increases by 4, x increases by 8 d. x = 4, y = 8 e. x increases by 4, y decreases by 8