The success of self-employed entrepreneurs depends on
A) a strong need to stay with tried and true ways of doing things.
B) high personal consumption rates.
C) an ability to discover and act on valuable opportunities overlooked by others.
D) the government and its investment in research and development.
C) an ability to discover and act on valuable opportunities overlooked by others.
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Suppose that a curve has a slope equal to zero at some point A. To the right of A, the curve may
A. have a positive slope. B. have a negative slope. C. be a straight line. D. All of these responses are correct.
The above figures show the market for oranges. Which figure(s) shows the effect of an increase in the price of bananas, a substitute for oranges?
A) Figure A B) Figure C C) Figure D D) Figure A and C
Which of the following is NOT true of an insolvent bank?
A) Its net worth is negative. B) It may be unable to pay off its depositors. C) The value of its assets is less than the value of its liabilities. D) It must have no more deposits.
"Ceteris paribus" assumption means
A) the role of rational self-interest in the economy. B) that nothing else changes except the variables under consideration. C) relying on real-world data in evaluating the usefulness of a model. D) analysis that is strictly limited to making either purely descriptive statements or scientific predictions.