Stockholders of a corporation can be regarded as entrepreneurs because they
a. are ultimately the ones who hire or fire managers
b. take the risks associated with corporate enterprise
c. are compensated for the opportunity costs they incur when they invest their capital in the corporation
d. are involved in the major management operations of the corporation
e. invest their time and effort in managing the corporation
B
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It is argued that the United States would be foolish to maintain a free-trade stance in a world in which all other countries exploit child or prisoner labor, or are protectionist
On the other hand, Ricardo's classic demonstration of the sources and effects of comparative advantage cogently demonstrates that regardless of other country policy, free trade remains the first best policy for a country to follow, since it will maximize its consumption possibilities (conditional upon other country policies). Explain. Discuss the contradiction with the argument in the preceding paragraph.
Unemployment caused by people voluntarily quitting work in order to seek more attractive employment is
a. the natural rate of unemployment b. not considered part of the unemployment c. cyclical unemployment d. frictional unemployment e. structural unemployment