________ start new economic enterprises, while ________ run the enterprises on a day-to-day basis.
A. Entrepreneurs; managers
B. Mangers; entrepreneurs
C. Entrepreneurs; laborers
D. Mangers; laborers
Answer: A
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Which of the following are part of a commercial bank's reserves?
I. cash in the bank's vaults II. loans III. cash in checking accounts A) I only B) I and II C) I and III D) I, II and III
The greatest advantage of the railroad over earlier forms of transportation was its speed and its ability to stay open throughout most of the winter. Robert Fogel attempted to measure the advantage of faster all-weather transport by examining:
a. profits in transportation industries as a group. b. profits in railroads compared with canals. c. employment of labor and capital in the transportation sector before and after the railroad. d. inventories of agricultural products held in eastern markets.
Dissaving occurs when:
a. disposable income is greater than consumption. b. consumption is greater than disposable income. c. consumption is equal to disposable income. d. consumption is greater than personal income. e. consumption is less than personal income.
It is consistent with utility maximization for Juan to buy a $2 strawberry and papaya smoothie, for which he gets 20 units of marginal utility, instead of a $1.50 pizza slice for which he gets 10 units of marginal utility
Indicate whether the statement is true or false