The major determinant of an individual's income is
a. how much she enjoys the work.
b. how productive she is combined with demand for what she produces.
c. whether or not her family is wealthy.
d. how well she gets along with her co-workers and boss.
b. how productive she is combined with demand for what she produces.
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In the long run, an entrepreneur who owns a perfectly competitive firm will earn no income from that firm
a. True b. False
Investment spending includes spending on:
A. capital goods, residential housing, and changes in inventories. B. stocks, bonds, and other financial instruments. C. durables, nondurables, and services. D. goods and services by federal, state, and local governments.
It is easier to sustain tacit collusion in an infinitely repeated game if:
A. the present value of cheating is lower than collusion and the interest rate is higher. B. there are many players. C. the present value of cheating is lower than collusion. D. the interest rate is higher.
Holding everything else constant
A) if asset A's risk rises relative to that of alternative assets, the demand will increase for asset A. B) the more liquid is asset A, relative to alternative assets, the greater will be the demand for asset A. C) the lower the expected return to asset A relative to alternative assets, the greater will be the demand for asset A. D) if wealth increases, demand for asset A increases and demand for alternative assets decreases.