The Type of Financing Evangeline Received from a Business Angel

question 56

Multiple Choice

The type of financing Evangeline received from a business angel is known as

• A) formal venture capital.
• B) informal venture capital.
• C) a formal business loan.
• D) an informal investment.

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Definitions:

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Labor Supplied

The total number of hours that workers are willing and able to work at a given wage rate.

Minimum Wage

The lowest legal wage that employers can pay to workers, aimed at protecting workers from unduly low pay.

Equilibrium Wage Rate

The equilibrium wage rate is the wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.