Which of the following statements is the MOST accurate? In general
A) the monetary approach to the exchange rate is a long run theory.
B) the monetary approach to the exchange rate is a short run theory.
C) the monetary approach to the exchange rate is both a short and long run theory.
D) the monetary approach to the exchange rate neither long run nor short run theory.
E) the monetary approach to the exchange rate is considered less practical than the law of one price.
A
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An entrepreneur is a(n)
a. individual who has much education b. organizer who seeks profitable opportunities and is willing to accept risks c. business organization that uses inputs to produce output d. administrator who runs an enterprise without accepting any risk of financial loss e. depot or storehouse for commercial products
The demand for any factor of production in a competitive industry depends on
A. its productivity and the productivity of all other inputs. B. the amount of the factor that is used and the amounts of all the other factors that are used. C. the productivity of all the other inputs and how these inputs are valued in the marketplace. D. its productivity and upon the value of its output in the marketplace.