A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix
B. Entrepreneurial discovery process
C. Business processes
D. Opportunity cost analysis
A. Decision matrix
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Which of the following best defines what money is now and what it has been in the past?
A) currency plus credit cards B) anything accepted as a means of payment C) currency D) anything used as a store of value E) currency plus checking deposits
A trade deficit can be financed by all of the following except
a. a surplus in the capital account. b. a surplus in the official reserves transaction account. c. selling U.S. assets to foreigners. d. U.S. citizens buying foreign stocks and bonds.
Most economists think that the economy's self-correcting mechanism is
a. relatively rapid. b. rapid in the short run and sluggish in the long run. c. sluggish in the short run and rapid in the long run. d. relatively sluggish.
A common approach that economists use to understand, explain and predict economic phenomena is to
A) form a theory or model. B) conduct experiments in a science lab. C) ask what people think. D) examine people's thought processes.