Which of the following makes someone an entrepreneur?
a) earning a lot of money as a computer programmer
b) becoming a highly paid dancer
c) running a service that hires people to install sprinkler systems in lawns
d) inventing and selling the rights to manufacture a computer game
Ans: d) inventing and selling the rights to manufacture a computer game
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
Graphically, cost-push inflation is shown as a ________.
A. rightward shift of the AD curve B. leftward shift of the AS curve C. leftward shift of the AD curve D. rightward shift of the AS curve
In the United States, out-of-pocket spending on health care is about ________ percent of all health care spending
A) 2 B) 12 C) 33 D) 48
To maximize its profit, a monopoly should choose a price where demand is:
a. elastic. b. inelastic. c. unitary elastic. d. vertical.