Excess capacity is defined as the difference between a firm's maximum possible output and its actual output
a. True
b. False
B
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Which of the following is the best example of an investment in human capital?
a. an increase in the number of hours worked per week by a worker in an unskilled laboring job b. the purchase of company stock by a worker c. a summer internship at a law firm for someone going to law school d. payments into a retirement pension plan by a skilled laborer
A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix B. Entrepreneurial discovery process C. Business processes D. Opportunity cost analysis
________: goods for which consumption falls (rises) when income increases (decreases)
Fill in the blank(s) with correct word
The movement of taxpayers into higher tax brackets as nominal incomes grow is
A. Bracket hike. B. Bracket creep. C. Inflation hike. D. Bracket leap.