If the entrepreneur is also the manager of the firm, we would expect
A) the manager to work hard because he or she is also the residual claimant.
B) the manager to not work hard since there is no possibility of further advancement.
C) the firm to operate poorly because the specialization of labor is not adequate.
D) the firm to operate poorly because the entrepreneur is not as good at managing workers as a professional manager would be.
A
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Which of the following describes what happened to the economy of the South after the Civil War?
A. The South, with the aid of new capital investment, public and private, became industrialized two decades after the Civil War. B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s played a key role in the industrialization of the South in the 1880s and 1890s. C. The South remained the poorest region in the country until the growth of the Sun Belt took off in the 1960s. D. The South remained a largely agricultural section of the economy until the 21st century.
Economists will always reach the same conclusion in their positive analyses
Indicate whether the statement is true or false
Describe the elasticity of supply for college education. What effect does this have on price and quantity as demand for college increases?
Please provide the best answer for the statement.
As monthly rain levels rise, golf course revenue falls because casual golfers prefer to stay dry. This is an example of:
A. scarcity. B. incentives. C. correlation and causation. D. normative analysis.