Flora Built Her Business from Two Employees to Over 2,000

question 72

Multiple Choice

Flora built her business from two employees to over 2,000 during her 30 years in business.She was able to endow a scholarship fund to the community college and to leave her children a perpetual income.We call this her:

• A)corporate responsibility.
• B)social mission.
• C)good citizenship.
• D)entrepreneurial legacy.

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Definitions:

Phillips Curve

An economic theory that suggests an inverse relationship between the rate of inflation and the unemployment rate.

Aggregate Demand

The overall requirement for products and services in an economic setting, identified at a specific price level and time period.

Short-Run Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a short-term period, assuming some input prices are fixed.

Inflation

A sustained increase in the general price level of goods and services in an economy over a period of time, leading to a decrease in the currency’s purchasing power.