In what way are entrepreneurs residual claimants?
What will be an ideal response?
Entrepreneurs who start and run a business receive only whatever residual revenue remains after all the other factors of production (natural resources, labor, and capital) have been paid. They receive whatever accounting profit or loss the firm generates.
Economics
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If you reject a joint null hypothesis using the F-test in a multiple hypothesis setting, then
A) a series of t-tests may or may not give you the same conclusion. B) the regression is always significant. C) all of the hypotheses are always simultaneously rejected. D) the F-statistic must be negative.
Economics
Which of the following countries had the smallest share of exports as a percentage of GDP in 2011?
A. Canada B. France C. United Kingdom D. United States
Economics