An entrepreneur is
A. a legal form of business.
B. the rate of discount.
C. the rate of return on capital.
D. one who takes risks and makes innovations in organizing a firm.
Answer: D
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As the cost of operating ATM machines falls, the demand for bank tellers will decline
a. True b. False
Hyperinflation is
A. inflation calculated using new technology. B. inflation calculated based on the CPI model. C. a very rapid increase in prices from year to year. D. a moderate increase in prices from year to year.
You are the chairperson of the Board of Governors of the Federal Reserve. You believe in a Keynesian model of the economy, and your goal is to keep the economy at the full-employment level of output
How would you respond (tightening or easing policy) in each of the following cases? (a) Government purchases increase (b) Corporate tax rates increase (c) Expected inflation increases (d) There's a beneficial oil price shock (and the LM curve shifts more to the right than the FE line)
A British waste management company acquired two other companies that specialized in disposal of hazardous wastes even though the two companies were losing money. Planning and regulatory requirements in the United Kingdom make it difficult for firms to establish new hazardous waste landfills, and the combined companies would control most hazardous waste landfills in some parts of the country. How do the planning and regulatory requirements affect the market for hazardous waste?
A. They create a burden on the company, and so it probably will lobby to repeal them. B. They help the merged companies because it will be expensive for other firms to enter the market to compete with them. C. They make the market for hazardous waste disposal into a monopolistically competitive market. D. They make the market for hazardous waste disposal into a contestable market.