Entrepreneurial profits are very low because entrepreneurs are generally
a. overly pessimistic and receive psychological rewards for their work.
b. overly pessimistic and incur psychological costs from their work.
c. overly optimistic and receive psychological rewards for their work.
d. overly optimistic and incur psychological costs from their work.
c
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The existence of multiple federal bank regulatory authorities has been permitted to continue because
A) the regulators coordinate their activities well enough to avoid differences. B) different types of banks require different kinds of regulation. C) many regulatory authorities are necessary to insure the safety of depositor's funds. D) the legislative will to replace the current regulatory system has been lacking.
Comparative advantage explains how two nations can benefit from trade
a. True b. False Indicate whether the statement is true or false