With the Economy Shifting from Production and Manufacturing to a Service-

question 19

Multiple Choice

With the economy shifting from production and manufacturing to a service- and knowledge-based economy, the tech entrepreneur was born and characterized as ______.

• A)the sons and daughters of prior generations of entrepreneurs
• B)millennials who will make up 75% of the workforce by 2025 and will be the most educated and exposed to entrepreneurial education
• C)a global citizen constantly seeking outsourcing opportunities
• D)focused on developing the next app that will sweep the nation

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Definitions:

Nominal Variables

Variables measured in monetary units.

Price Level

The average of current prices across the entire spectrum of goods and services produced in the economy, indicating the cost of living or inflation.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Dollar Depreciation

A decrease in the value of the dollar relative to other currencies, making imports more expensive and exports cheaper.