Entrepreneurs operate in which spheres of economic life?
a. c and e
b. education and training
c. production
d. accounting
e. markets
A
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A breakthrough in technology is most likely to: a. reduce the labor needed to produce a given amount of output. b. decrease the demand for all goods and services in a country. c. increase the cost of production for a firm
d. reduce the availability of skilled workers. e. lower the standard of living in a country in the long run.
If the dollar appreciates (becomes stronger) this causes:
a. the relative price of U.S. goods to increase for foreigners. b. the relative price of foreign goods to decrease for Americans. c. U.S. exports to fall and U.S. imports to rise. d. a balance of trade deficit for the U.S. e. all of these.
Loans made between lenders and borrowers are:
A. liabilities of the borrowers. B. not taxable in the state of origination. C. liabilities of the lenders. D. assets to the borrowers.
What is a patent?
What will be an ideal response?