Which statement about entrepreneurship in America is true?
A. Alexander Graham Bell and Thomas Edison were two of the most famous American inventors who became entrepreneurs.
B. Often the entrepreneur is an innovator.
C. The vast majority of entrepreneurs in America either work for themselves or have just one or two employees.
D. All of the statements are true.
D. All of the statements are true.
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Financial intermediaries reduce risk by
A) investing in a large number of projects with independent returns. B) gaining expertise in evaluating and monitoring investments. C) investing in a small number of projects with independent returns. D) limiting the diversity of their investment portfolios.
If a monopolist's profits were taxed away and redistributed to its consumers,
A) inefficiency would remain because output would be lower than under competitive conditions. B) inefficiency would remain, but not because output would be lower than under competitive conditions. C) efficiency would be obtained because output would be increased to the competitive level. D) efficiency would be obtained because output would be increased and profits removed.
Nominal income:
A. Reflects the purchasing power of money. B. Is income adjusted for inflation. C. Is the amount of money income, measured in current dollars. D. Is the amount of money income, measured in constant dollars.
Using the expenditure approach, GDP equals:
A. C + I + G + (X ? M). B. C + I + G + (X + M). C. C + I ? G + (X ? M). D. C + I + G ? (X ? M).