According to ________, entrepreneurship does not contribute anything of value to production
A) Milton Friedman B) Karl Marx
C) Robert Lucas and Thomas Sargent D) John Maynard Keynes
B
You might also like to view...
Suppose that Venezuela experiences significant capital outflows after a recent election. If the nation had fixed exchange rates, what effect would these flows have had on Venezuela's overall balance and reserves account?
a. Overall balance would rise and reserves account would fall. b. Overall balance would not change and reserves account would fall. c. Overall balance would fall and reserves account would rise. d. Overall balance would fall and reserves account would fall. e. Overall balance would fall and reserves account would rise.
Suppose that Cambodia becomes the next popular tourist destination. You notice that hotels, restaurants, and other services cost much less there than in the United States. From the perspective of the U.S. dollar, what would be the real exchange rate of the Cambodian riel?
a) The real exchange rate would be 0. b) The real exchange rate would be 1. c) The real exchange rate would be greater than 1. d) The real exchange rate would be less than 1.
State the law of diminishing marginal returns
What will be an ideal response?
A modern example of privatizing a common resource is:
A. patents. B. quotas. C. taxes. D. subsidies.