If an economic agent's returns to entrepreneurship is likely to be lower than his opportunity cost of entrepreneurship:
A) he will choose to be an entrepreneur.
B) he will always make profits if he chooses to be an entrepreneur.
C) he will always make losses if he chooses to be an entrepreneur.
D) he will not choose to be an entrepreneur.
D
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While waiting in line to buy two tacos at 80 cents each and a medium drink for 90 cents, Jordan notices that the restaurant has a value meal containing three tacos and a medium drink all for $3. Jordan should purchase the value meal ifÂ
A. his marginal cost exceeds his marginal benefit. B. his marginal benefit of the third taco is greater than 50 cents. C. his value of the third taco is less than 50 cents. D. he has $3 in his wallet.
Suppose a country has 1 billion people. 75 percent of its citizens are in the labor force, with 90 million unemployed. Full employment occurs at 2 percent. Based on this information, what is the unemployment rate?
A. 8.3 percent. B. 12.0 percent. C. 25.0 percent. D. 9.0 percent.