An entrepreneur is:
A. an employee in a factory.
B. the manager of a factory.
C. the person who conceives and starts a business.
D. the person who does not assume any risk in business.
Answer: C
Economics
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Which of the following statements is true?
A) Income inequality within most countries has increased during the past 20 years. B) Income inequality across the entire world has decreased during the past 20 years. C) Income inequality within most countries and across the entire world has not changed much during the past 20 years. D) Both A and B are correct. E) None of the above is correct.
Economics
Suppose the production function is given by Q = 4K + 6L. What is the average product of capital when 10 units of capital and 5 units of labor are employed?
A. 7 B. 10 C. 5 D. 14
Economics