Being first only works
A) if accounting profits are earned in the first year.
B) if the entrepreneur has the working capital of a large firm.
C) in a winner take all situation.
D) all of these choices.
C
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and no fiscal or monetary policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to E. B) C to B. C) B to C. D) B to A. E) A to B.
The International Labor Organization has been around since 1919, and has a consistent record of being willing to take action against countries that violate core labor standards
Indicate whether the statement is true or false
The euro is a composite currency; its value is an average of the changing values of several national currencies
a. True b. False Indicate whether the statement is true or false