Andrew Carnegie, Steven Jobs and Sam Walton were all innovators who are also considered _____________.
Fill in the blank(s) with the appropriate word(s).
entrepreneurs
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Which of the following is a normative question?
A) How often do banks fail? B) What is the value of a human life? C) How much does government spending stimulate aggregate output? D) How do we calculate the total value of activity in an economy?
From the economic point of view, "joint costs" are problematic because
A) they can only be determined in markets for illicit drugs. B) there is no way to correctly allocate joint costs. C) they can be measured only by the most sophisticated accounting techniques. D) there is no way to discuss the concept meaningfully.
The inflation rate = ________
A) nominal GDP - real GDP B) growth rate in real GDP - growth rate in nominal GDP C) growth rate in real GDP + growth rate in nominal GDP D) nominal GDP รท real GDP E) none of the above
A relationship between two variables in which one variable increases at the same time as the other decreases is called
A) nonlinear. B) constant. C) inverse. D) direct.