Which of the following is true?
A) Entrepreneurs generally save less of their income than other Americans.
B) If you want to make a lot of money, you had better figure out how to provide others with substantial value and find ways to discover and act on strategic opportunities.
C) Additional years of schooling will substantially increase your earnings even if they fail to increase your productivity and ability to provide others with things that they value.
D) Most entrepreneurs work very few hours.
B) If you want to make a lot of money, you had better figure out how to provide others with substantial value and find ways to discover and act on strategic opportunities.
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A cartel is most likely to occur in
A) perfect competition as firms compete by reducing cost. B) oligopoly as firms act together to raise prices and increase profits. C) monopolistic competition where firms collude to increase profits. D) oligopoly as firms compete to lower price and increase their own profits. E) monopoly because it faces no competition.
Indicate whether each of the following is a positive or normative economic statement: I. The imposition of a price ceiling below equilibrium price will lead to a shortage of housing. II. The local government should control the rate of increase in rents so that low-income residents are not forced to move from the area
Given the following figures, by approximately what percentage did Michael's real income increase between 2008 and 2009? Michael's 2008 money income = $60,000 Michael's 2009 money income = $72,000 2008 CPI = 120.0 2009 CPI = 128.0
a. zero b. 6.7 percent c. 12.5 percent d. 20 percent
Given the uncertainty about the effects of macro policy, economists generally propose that
A) macro policies should be more active, the lower the level of unemployment or inflation. B) changes in money growth should only be used for fine tuning the economy, not for correcting large imbalances (such as high inflation). C) money growth should be set at zero by constitutional amendment. D) elected officials should have more input in the determination of monetary policy. E) none of the above