Frank Knight's theory of profit focuses on ______ and Joseph Schumpeter's theory of profit focuses on _______.
A. risk bearing; innovation
B. innovation; risk bearing
C. risk bearing; risk bearing
D. innovation; innovation
A. risk bearing; innovation
You might also like to view...
Use the following information to answer the next question.The following items describe the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment.Mollie just graduated from college and is now looking for work. She has had three job interviews in the past month but still has not gotten a job offer.George used to work in an automotive assembly plant. He was laid off six months ago as the economy weakened. He expects to return to work in a few months when national economic conditions improve.Jeanette worked as an aircraft design engineer for a company that produces military aircraft until she lost her job last year when the federal government cut defense spending. She has been looking for similar work for a year but no company seems interested in her
aircraft design skills. Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for a year but was unsuccessful and quit looking for work. Which individual(s) would be included in the calculation of the natural unemployment rate? A. Mollie and Jeanette B. George and Ricardo C. Mollie only D. George only
Suppose the supply of farmland is infinitely inelastic and the demand for land is downward sloping but inelastic at the current equilibrium
If the supply curve shifts leftward (e.g., some farmland is permanently converted to other uses), what happens to the aggregate economic rents in this market? A) Decrease B) Increase C) Remain the same D) We do not have enough information to answer this question.
What is the principal difference between the neo-Keynesian and rational expectations theories concerning stabilization policy?
____________is a market structure in which no close substitute products are available
Fill in the blank(s) with the appropriate word(s).