An implication of the return-to-entrepreneurship curve is that:
A) for a relatively lower return, there will be more entrepreneurs with at least that return.
B) all entrepreneurs in an economy with inclusive institutions have exactly the same return.
C) all entrepreneurs in an economy with extractive institutions have exactly the same return.
D) for a relatively lower return, there will be fewer entrepreneurs with at least that return.
A
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To shift the RS curve rightward as illustrated, the Fed has ________ government securities in the open market. The Fed will undertake this type of policy if it is concerned about ________
A) sold; recession B) sold; inflation C) bought; recession D) bought; inflation E) None of the above answers is correct.
If Howard takes out a $400 loan for one year at 5 percent interest annually, he will pay back a total of:
A. $400. B. $440. C. $420. D. $20.
The producer's surplus is equal to the difference between how much the seller can charge for a product and how much the consumer is willing to purchase it for
a. True b. False Indicate whether the statement is true or false
If the demand for illegal drugs is inelastic, then a government policy to cause their price to increase would cause total revenue from drug sales to:
A. rise. B. fall. C. stay the same. D. drop to zero.