Exit and shutdown mean the same thing.
Answer the following statement true (T) or false (F)
False
The decision to shut down is a short-run decision and may be temporary or permanent. The decision to exit is a long-run decision and is a permanent departure from the industry.
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The fact that using money avoids the double coincidence of wants necessary in a barter economy illustrates which function of money?
A) medium of exchange B) unit of account C) store of value D) source of liquidity
Suppose each of the following news items appears on the evening news. Which one would most likely cause consumption spending to increase?
a. "Layoffs reach record high" b. "Government to increase taxes with the start of the next quarter" c. "Stock market drops 10%" d. "Government to issue tax rebates at the end of next month" e. "Bankruptcies increase 20% over the last six months"
Which of the following correctly describes convergence theory?
a. The rate of economic growth in less and more developed countries will be approximately the same. b. The productivity of skilled and unskilled workers will converge to the same value over time. c. Economies around the world will become more similar over time as less-developed countries grow faster than highly industrialized countries. d. The rate of economic growth in highly-developed countries will continue to outpace that of less-developed countries.
The U.N. has established a Millennium Poverty Goal of cutting in half by 2015 the number of people in extreme global poverty.
Answer the following statement true (T) or false (F)