Foreign aid:
A. provided by developed countries to developing countries represents about 10 percent of the GDP of developed countries.
B. is an important source of funding for investment in most developing countries.
C. does not contribute much to domestic investment in most developing countries.
D. is largely wasted in most developing countries because it comes with no strings attached.
Answer: C
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The main difference between a monopsonist and a competitive buyer of labor is that
A) the monopsonist can hire as many workers as it wants at the going wage while the competitive firm must raise wages to hire additional workers. B) the competitive firm can hire as many workers as it wants at the going wage while the monopsonist can hire more workers at lower wages. C) the competitor can hire as many workers as it wants at the going wage while the monopsonist must raise wages to hire additional workers. D) the monopsonist can force wages down and still hire as many workers as it wants while the competitive firm must increase the wage rate to hire additional workers.
Mary has opened a preschool, which involves paying rent on the building, playground improvements, and teacher salaries. She spreads the word through advertising and social media to attract families. During the first year, Mary takes no salary while the school is getting off the ground. Which of these constitutes implicit costs for the preschool business?
a. Attracting families through social media is free, so it is an implicit rather than explicit cost. b. Paying rent is an implicit cost because starting a preschool implies needing a physical location. c. Teacher salaries are an implicit cost because a school must have teachers. d. Forgoing a year’s salary is an implicit cost because it represents a resource contributed by the owner.
Dole Co operates in a monopolistically competitive market. Which of the following characterizes Dole Co's market?
A) Dole Co. supplies a small portion of the market's output. B) Dole Co.'s product is slightly different from its competitors. C) Dole Co. faced no barrier to entry when it decided to enter its market. D) All of the above describe Dole Co.'s market.
The Doha Round of international trade talks concluded in 2007 with the successful establishment of a general free trade agreement between developing and developed nations
Indicate whether the statement is true or false