Before the modern manufacturing firm evolved during the Industrial Revolution in Great Britain, entrepreneurs relied on "putting out" production to rural households, which came to be known as the cottage industry system
Indicate whether the statement is true or false
true
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How does an open market operation change the monetary base?
What will be an ideal response?
The consumer's lifetime budget constraint states that
A) the present value of lifetime consumption must be equal to the present value of lifetime gross income. B) the present value of lifetime consumption must be equal to the present value of lifetime disposable income. C) the present value of lifetime consumption plus the present value of lifetime taxes to be paid must be equal to the present value of lifetime income. D) the present value of lifetime taxes to be paid by the consumer must be equal to the present value of government spending.
Over 20% of high school dropouts are under the poverty line
Indicate whether the statement is true or false
Which statement best describes social surplus?
a. the sum of consumer surplus and producer surplus b. the amount that a seller is paid for a good minus the seller’s actual cost c. the amount that individuals would have been willing to pay, minus the amount that they actually paid d. when it is impossible to improve the situation of one party without imposing a cost on another