Which theory considers the income distribution effects of trade in the short run?
a. specific-factors theory
b. product life cycle theory
c. factor-endowment theory
d. Stolper–Samuelson theorem
a. specific-factors theory
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Sunk costs are:
A) opportunity cost. B) costs that will occur in the future. C) not relevant. D) costs that can be avoided.
________ refers to monetary damages that are awarded to punish a defendant who either intentionally or recklessly injured the plaintiff
A) Reliance damages B) Consequential damages C) Punitive damages D) Nominal damages
Freedom from criterion deficiency of performance appraisals refers to the extent to which
A. standards relate to the overall objectives of the organization. B. standards capture the entire range of an employee's responsibilities. C. individuals tend to maintain a certain level of performance over time. D. factors outside the employee's control can influence performance.
Which statement about monopolies is FALSE?
a. There is one seller. b. The products offered are unique. c. Entry into the market is almost impossible. d. The airline industry is a good example.