Which of the Following Statements Best Describes Schumpeter's View of Profits

question 37

Multiple Choice

Which of the following statements best describes Schumpeter's view of profits?

• A)Profits occur only in an economy when full employment is achieved.
• B)Competition within a capitalist economy would tend to result in zero economic profit.
• C)The source of profits,whatever level they may be,is the result of entrepreneurial activity.
• D)Profits occur only when the economy is in a boom.

---

Definitions:

Bipolar Disorder

A mood disorder in which the patient swings between emotional extremes, experiencing both manic and depressive episodes.

Schizophrenia

A chronic brain disorder characterized by distorted thinking, perceptions, emotions, language, sense of self, and behavior.

Personality Disorders

Relatively stable, pervasive patterns of behavior and inner experience that are culturally discrepant and lead to distress or impairment; noted on Axis II of the DSM.

Benjamin Rush

A Founding Father of the United States known for his many contributions to American medicine, politics, and education.