The manager of a U.S. office building hires a local company owned by a recent Canadian immigrant to handle landscape maintenance. This is a form of
A) domestic outsourcing.
B) vertical integration.
C) international outsourcing.
D) insourcing.
A
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If people refused to use banks to create checkable deposits, the banking system would:
a. not be affected in the money creating process. b. not have a way to loan out excess reserves. c. be able to expand the money supply by more than the money multiplier indicates. d. not be able to create new money. e. not be able to find new borrowers.
The rate of productivity growth is the primary determinant of an economy’s rate of _________ economic growth and higher wages.
a. long-term b. short-term c. immediate d. historic
Which of the following groups of words best represents macroeconomic goals?
A.) Full employment, price stability, economic growth. B.) Rate of production, choice of factors of production, and the pricing of specific goods. C.) Welfare of individual consumers and business firms. D.) Land, labor, and capital.
Suppose your firm is operating in a perfectly competitive market, and that the minimum average variable cost of producing your good is $13. If the price of the good is $15, your firm should:
A. supply the amount of the good where the marginal cost of production is equal to $15. B. not produce anything since the price is above the minimum of average variable cost. C. not consider price when determining the amount to sell. D. not do any of these.