Entrepreneurial profits are very low because entrepreneurs are generally overly
A. pessimistic and receive psychological rewards for their work.
B. pessimistic and incur psychological costs from their work.
C. optimistic and receive psychological rewards for their work.
D. optimistic and incur psychological costs from their work.
Answer: C
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Under the Bretton Woods Agreement, the goal of the IMF was to
A) finance international transactions in gold. B) lend to countries experiencing balance of payment deficits. C) help less developed countries advertise their goods in the developed countries. D) provide oversight to the functioning of central banks in the member countries.
Which is the most accurate statement?
A. Workfare has been a great success in moving millions of people off the welfare rolls into minimum wage jobs. B. Most people on welfare are now limited to receiving benefits for no more than 5 years during their entire adult lives. C. The Personal Responsibility and Work Opportunity Act of 1996 provides jobs or training for every adult who desires to leave welfare. D. Until the passage of welfare legislation in 1996, the welfare rolls had been rising for the previous 6 years.
An increase in the number of hours worked would
A. shift the production function upward. B. shift the production function downward. C. shift the production function outward. D. not shift the production function.
The demand curve for a monopolist:
A.) Is steeper than the marginal revenue curve. B.) Lies below the marginal revenue curve at every point but the first. C.) Is the same as the marginal revenue curve. D.) Lies above the marginal revenue curve at every point but the first.