The entrepreneur
A. runs his or her own business and risks his or her own money.
B. does not necessarily run her or his own business nor risks her or his own money.
C. runs his or her own business, but does not necessarily risk his or her own money.
D. does not necessarily run her or his own business, but does risk her or his own money
A. runs his or her own business and risks his or her own money.
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Refer to the scenario above. The opportunity cost per dollar of value added in the production of Good X by worker 2 is ________
A) $87.50 of value added in the production of Good Y B) $100 of value added in the production of Good Y C) $0.50 of value added in the production of Good Y D) $0.70 of value added in the production of Good Y
Moving along the aggregate supply curve, when the price level rises,
A) the quantity supplied decreases. B) the quantity supplied increases. C) the aggregate demand curve shifts rightward. D) the aggregate demand curve shifts leftward. E) the quantity supplied does not change because the aggregate supply curve is a vertical line.