An entrepreneur is a(n)
a. individual who has much education
b. organizer who seeks profitable opportunities and is willing to accept risks
c. business organization that uses inputs to produce output
d. administrator who runs an enterprise without accepting any risk of financial loss
e. depot or storehouse for commercial products
B
Economics
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How is the impact of expansionary monetary policy different in an open economy than in a closed economy?
What will be an ideal response?
Economics
A consumer's demand for CDs can be represented by a line with slope -b and intercept a. If the current price of CDs is $P, then the ratio of consumer surplus to total expenditures on CDs equals
A) (a - P)(a - bP). B) 1/2(a - P)(a - bP). C) D(a - bP). D) (a - P)/P. E) (a/b - P)/(2P).
Economics