An entrepreneur is a(n)
a. individual who has much education
b. organizer who seeks profitable opportunities and is willing to accept risks
c. business organization that uses inputs to produce output
d. administrator who runs an enterprise without accepting any risk of financial loss
e. depot or storehouse for commercial products
B
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Which of the following categories accounted for the lowest percent of the total federal government expenditures in recent years?
a. Income security. b. National defense. c. Education and health. d. Interest on the national debt.
Suppose a bank has demand deposits of $2,500, excess reserves of $125, and a reserve requirement of 25 percent. What is the loss in the money expansion process of the whole banking system if the bank decides to lend out only $100?
a. $100 b. $150 c. $200 d. $400 e. $500
In high schools, all teachers were paid the same based on years of service and regardless of specialization. Beginning in the 1970s, a shortage of science and math teachers developed as private industry paid more for math and science skills than schools could offer. At the same time, a decline in the number of school-age children tended to reduce the demand for all other teachers, which led to a
surplus. The economist's solution to this problem would be a. merit pay to reward the best teachers. b. recognition that all teachers do comparable work and should be paid the same. c. to raise the wages of all teachers. d. to raise the wages of teachers in fields that are in short supply and lower those of others.
What is a matrix organization?
What will be an ideal response?