Small Business
What will be an ideal response?
Independently owned business that usually has the owner as its manager
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What type of economics would most typically deal with aggregates?
A) macroeconomics B) microeconomics C) labor economics D) environmental economics
In the prisoner's dilemma game:
A. a cooperative strategy can lead to a more beneficial outcome for both players. B. a noncooperative strategy will lead to a positive-positive outcome. C. a stable outcome is impossible. D. neither player has a dominant strategy.
The market supply curve for labor: a. shows the relationship between the wage rate and the number of employees firms are willing to hire
b. shows the relationship between the price of output and the number of employees firms are willing to hire. c. shows the relationship between the wage rate and the quantity of labor that workers are willing to supply. d. shows the relationship between the price of output and the quantity of labor that workers are willing to supply.
Heath's income elasticity of demand for concerts is 2 . All else equal, this means that if his income increases by 10 percent, he will purchase tickets for
a. 2 percent more concerts. b. 5 percent more concerts. c. 10 percent more concerts. d. 20 percent more concerts.