The author of the book An Inquiry into the Nature and Causes of the Wealth of Nations is
A. Adam Smith.
B. Donald Trump.
C. Janet Yellen.
D. Thorstein Veblen.
Answer: A
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If you have a comparative advantage in producing a good, it implies:
a. you have a lower marginal cost of producing that good. b. you have a higher marginal cost of producing that good. c. you have a lower total cost of producing that good. d. you have a higher total cost of producing that good.
Starting from short-run equilibrium, the following occurs: the money supply increases and labor productivity increases. What is the effect on the price level and Real GDP in the short run?
A) Real GDP falls and the price level necessarily rises. B) Real GDP rises and the price level necessarily rises. C) Real GDP rises and the effect on the price level cannot be determined. D) Real GDP falls and the effect on the price level cannot be determined. E) none of the above
When a business is considered by law to be a legal entity, it is known as a
A) partnership. B) conglomerate. C) corporation. D) proprietorship.
Provide some examples of management innovations that have lost their popularity.
What will be an ideal response?