If the MPC = 0.80, the government purchases multiplier is

If the United Auto Workers successfully negotiates a wage that is higher than the competitive wage,

a. there is no excess supply of labor because everyone who wants to work at the union wage can get a job b. there is no excess demand for labor because everyone who wants to work at the union wage can get a job c. the union must ration the available jobs d. all workers are better off e. more workers are employed than at the competitive wage

All of the following statements are true about entrepreneurship except:

A. The entrepreneur assembles needed resources. B. The entrepreneur risks her or his own money. C. The entrepreneur reaps the profits or suffers the losses of the enterprise he or she creates. D. The term entrepreneur is synonymous with the term inventor.