In order to prosper, entrepreneurs must
a. undertake projects that create wealth and increase the value of resources.
b. find ways to prevent technological change.
c. have their own wealth with which to finance projects that they want to undertake.
d. undertake projects that use resources that are more valuable than is the output they produce.
A
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Which of the following statements is true?
A) There will be no change in unemployment if there is a leftward shift in the labor demand curve and there is wage rigidity, everything else remaining unchanged. B) Unemployment will be higher if there is a leftward shift in the labor demand curve and there is no wage rigidity, everything else remaining unchanged. C) Unemployment will be higher if there is a leftward shift in the labor demand curve and there is downward wage rigidity in the labor market, everything else remaining unchanged. D) There will be an increase in unemployment if there is a leftward shift in the labor demand curve and there is no wage rigidity, everything else remaining unchanged.
Luigi owns and operates a small restaurant. The income he receives from the restaurant is classified as
a. saving b. proprietor's income c. wages and salaries d. rental income e. dividends
If the marginal utilities are constant for travel and food and the marginal utility per dollar of travel is 50 and the marginal utility per dollar of food is 30:
A. we can gain 20 units of net utility by spending one more dollar on food and one less dollar on travel. B. we can gain 20 units of net utility by spending one less dollar on food and one more dollar on travel. C. the total utility of food and travel is 80. D. we can gain 30 units of net utility by spending one less dollar on food and one more dollar on travel.
Which of the following statements about the loanable funds market is correct?
a) The actions of investors affect the supply curve in the market. b) The actions of investors affect the demand curve in the market. c) The actions of savers affect the demand curve in the market. d) The actions of investors affect both the demand curve and the supply curve in the market.