Which of the following is considered to be an entrepreneur?
A. A self-employed person
B. An MBA graduate hired by a firm to be its CEO
C. A production-line worker
D. A customer of a firm
Answer: A
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Which of the following is not an example of inflation causing a redistribution of income because the inflation was unanticipated?
A) Firms have to hire an extra worker to change prices in its store because of inflation. B) A worker receives a raise in salary that is less than the rate of inflation, because management under-predicted inflation. C) A bank collects a lower amount of interest from a loan because inflation was under-predicted. D) A firm signs a 3-year contract with a union based on a 2 percent anticipated rate of inflation per year, and the actual rate of inflation ends up being 7 percent per year.
The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO
All of the following are reasons for these anti-globalization protests except A) protesters believe that free trade destroys the distinctive cultures of many countries. B) protestors believe the WTO favors the interests of high-income countries at the expense of lower-income countries. C) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment. D) protesters believe that tariffs are needed to protect domestic firms from foreign competition.
Components of aggregate expenditure?
What will be an ideal response?
A zero-sum economy would result from
A. moderate economic growth. B. excessive growth after adjusting for inflation rates. C. a lack of economic growth. D. nominal GDP growth.