Entrepreneurship functions better when
A) the government performs the entrepreneurial function.
B) there is a well-defined property rights system.
C) saving is relatively low.
D) most of the population has low levels of education.
B
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In the open-economy macroeconomic model, at the equilibrium real interest rate, the amount that people (including government) want to save exactly balances desired domestic investment
a. True b. False Indicate whether the statement is true or false
Economists have found that entrepreneurs are likely to have subjective beliefs about the probability of entrepreneurial success that are higher than the actual objective probabilities. These beliefs are most closely related to which of the following behavior concepts?
a. People are overconfident b. People give too much weight to a small number of vivid observations. c. People are reluctant to change their minds. d. People are inconsistent over time.