The role of the entrepreneur in society is to:
a. Bring the factors of production together and take the risks of producing
b. Control the land upon which all production takes place to get the most rent
c. Provide capital to the firm which the management combines with labor
d. Work with other elected officials to determine what goods are produced
a. Bring the factors of production together and take the risks of producing
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Between 1947 and 2014, U.S. real GDP
A) remained relatively unchanged. B) doubled. C) grew eightfold. D) decreased even though nominal GDP increased.
When a nation's currency suddenly loses value, the ________ may step in to buy the afflicted currency
A) World Bank B) International Monetary Fund C) Federal Reserve Bank D) United Nations
Older Americans living on a pension and therefore on a fixed income, tend to be made
a. better off when prices rise. b. better off when the inflation rate rises. c. worse off when prices rise. d. worse off when prices fall.
In 1998 the US Justice Department and 20 state attorneys general filed a suit against Microsoft alleging that Microsoft tried to protect its operating system monopoly and extend that monopoly into internet software. This is an example of
a. predatory pricing b. antitrust enforcement c. economic regulation d. social regulation e. the regulatory dilemma