The entrepreneur
a. serves as a liaison between management and labor
b. owns all of the factors of production
c. allocates the risk and uncertainties of enterprise to others
d. assumes the risk and uncertainties of enterprise
e. earns more than labor
D
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If a manager's expected marginal cost exceeds their expected marginal revenue, which of the following is true?
A) The manager is maximizing expected profit. B) To maximize expected profit, the manager should increase production. C) The expected profit from producing another unit is negative. D) The expected profit from producing another unit is positive.
In Keynes's view, an excess quantity of money supplied causes people to:
a. sell bonds and the interest rate rises. b. buy bonds and the interest rate falls. c. buy bonds and the interest rate rises. d. increase speculative balances.
The discount rate serves as a ceiling on interbank reserve loans
a. True b. False Indicate whether the statement is true or false
Why might the government impose regulations on monopolistically competitive firms?
a. to make them less like monopolies b. to make them more like perfectly competitive firms c. to make them less like perfectly competitive firms d. to make more like non-profit organizations