If an individual is indifferent about being an entrepreneur or not:
A) his losses from entrepreneurship is likely to be equal to his opportunity cost of entrepreneurshi
B
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Under a rule of reason approach, an act is illegal:
a. only if it is shown to result in an anticompetitive outcome. b. if two parties merge. c. if a firm engages in price discrimination. d. if two firms engage in price fixing. e. if two firms undertake a joint venture
Entrepreneurs are more likely to develop among minority groups that have been blocked from traditional high-paying jobs
a. True b. False Indicate whether the statement is true or false
Based on the Saving-Investment Diagram, if the world real interest rate is indicated by A, then ________
A) the difference between values G and E measures the trade surplus B) the difference between values G and F measures the trade surplus C) the domestic real interest rate is indicated by B D) desired saving has decreased E) none of the above
Briefly and concisely define the following terms and explain their relevance to the study of economics
a. industrial and craft unions b. closed shop c. union shop d. bilateral monopoly e. collective-bargaining agreement