Which of the following is true of entrepreneurs? They
A) Generally work fewer hours per week than wage and salary employees.
B) All of the above.
C) Are adept at discovering profitable opportunities that are often overlooked by others.
D) Have low saving rates and excessive debt.
C) Are adept at discovering profitable opportunities that are often overlooked by others.
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The slope of a production possibilities frontier that displays increasing opportunity cost is
A) positive and constant. B) negative and constant. C) steeper near the horizontal intercept than near the vertical intercept. D) steeper near the vertical intercept than near the horizontal intercept.
If inflation is higher than expected, this helps borrowers (by reducing the real interest rate they pay) and hurts lenders (by reducing the real interest rate they receive)
Indicate whether the statement is true or false
A large airline calculates that the additional cost of a having a passenger on a flight to the Bahamas as the cost of a bag of peanuts and a soft drink, which totals $1.50, but the airline's price is $600 for potential customers who want to buy vacant seats on the day of the flight. Which economic principle is this airline failing to utilize?
Suppose the central bank of a country increases the discount rate from 5 percent to 7 percent. The demand for money remaining unchanged, this is likely to _____ in the country
a. increase the money supply b. decrease interest rates c. leave the interest rates unchanged d. increase interest rates