If the institutions in an economy change from being extractive to inclusive, the return-to-entrepreneurship schedule in the economy will:
A) become vertical. B) shift leftward.
C) become horizontal. D) shift rightward.
D
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Which statement is consistent with the economic way of thinking?
A) Politicians seek to advance their own interests. B) Politicians are not only concerned with money and material goods. C) Politicians do not necessarily pursue narrow or selfish goals. D) All of the above. E) None of the above.
The demand for a good is more price inelastic if
A) its price is higher. B) the percentage of income spent on it is larger. C) it is a luxury good. D) it has no close substitutes.
Whenever a price ceiling is imposed in a market,
a. quantity demanded exceeds quantity supplied and a surplus results b. quantity demanded exceeds quantity supplied and a shortage results. c. quantity supplied exceeds quantity demanded and a surplus results. d. it is necessary to know whether the ceiling is imposed above or below the equilibrium price in order to determine whether the quantity traded will be affected.
Which form of business has most of the characteristics of a regular corporation but adds the legal constraint that the company has to follow a specified nonfinancial? goal?
A. Private corporation B. S corporation C. Limited liability corporation D. Benefit corporation E. General partnership corporation