An entrepreneur can be fairly certain about some factors associated with production, but is most likely to use guesswork or intuition to estimate
a. wage rate
b. monthly rent
c. price
d. labor productivity
e. interest rate
C
You might also like to view...
Consumer’s surplus is a measure of how much
A. less than his income a consumer spends on goods. B. more utility a consumer receives from his purchases than he has to pay for them. C. a consumer’s marginal utility differs from his total utility. D. a change in price induces a consumer to substitute other goods.
Actual expenditure is to planned expenditure as ________ is to ________
A) desire; accomplishment B) aggregate demand; aggregate supply C) output; income D) observed; theoretical E) fluctuation; equilibrium
The greater the degree of specialization in the economy, the: a. easier it is to discover a double coincidence of wants
b. more feasible is a barter system. c. less likely it is that monetary exchange will develop. d. harder it is to negotiate an exchange rate between all pairs of goods. e. more likely it is that individual consumers are self-sufficient.
The demand for foreign currency is derived from the demand for that country's goods and services
a. True b. False Indicate whether the statement is true or false