The entrepreneur
A. runs his or her own business and risks his or her own money.
B. does not necessarily run her or his own business nor risks her or his own money.
C. runs his or her own business, but does not necessarily risk his or her own money.
D. does not necessarily run her or his own business, but does risk her or his own money.
A. runs his or her own business and risks his or her own money.
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The only type of business that faces unlimited liability is a sole proprietorship
Indicate whether the statement is true or false
The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent. For the U.S
steel industry, a "Buy American" provision would create gains for all of the following except A) U.S. steel workers. B) U.S. taxpayers. C) U.S. steel companies. D) All of the above would gain from the provision.
The contagion effect refers to the fact that
A) deposit insurance has eliminated the problem of bank failures. B) bank runs involve only sound banks. C) bank runs involve only insolvent banks. D) the failure of one bank can hasten the failure of other banks.
All of the following are reasons for the downward-sloping aggregate demand curve except
A) as the price level decreases, the quantity demanded of real GDP decreases because goods and services are more expensive. B) as the price level increases, the real value of household wealth declines, reducing consumption. C) a higher price level increases the demand for money, causing an increase in the interest rate which reduces spending on investment goods and consumer durables. D) if the price level rises in a country relative to price levels in other countries, net exports will decrease in the original country.