Which of the following best describes an entrepreneur?
a. A person who combines the factors of production to produce innovative products.
b. A special type of capital.
c. Wealthy individuals who provide savings that stimulate the economy.
d. A person who works as an office clerk at a major corporation.
a
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If your MPC is 0.5, then when your disposable income increases by $100, your consumption expenditure increases by
A) $200. B) $100. C) $95. D) $50. E) $5.
In the aggregate demand-aggregate supply model in the short run, an increase in the money supply will lead to a(n): a. increase in both the price level and real GDP
b. decrease in both the price level and real GDP. c. increase in real GDP and a decrease in the price level. d. decrease in real GDP and an increase in the price level. e. increase in the price level only.