If the dollar buys fewer bananas in Guatemala than in Honduras, then traders could make a profit by
a. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Honduras.
b. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Guatemala.
c. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Guatemala.
d. buying bananas in Guatemala and selling them in Honduras, which would tend to raise the price of bananas in Honduras.
Answer: a. buying bananas in Honduras and selling them in Guatemala, which would tend to raise the price of bananas in Honduras.
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Restaurants catering to both a lunch and dinner trade are likely to mark their prices up above the cost of the food more for dinner than for lunch because
A) the demand is greater at dinner. B) the demand is less at dinner. C) the demand is less elastic at dinner. D) the demand is more elastic at dinner.
An oral auction
a. is also called an English auction b. is where bidders submit increasing bids until all but one remains c. is where the sole remaining bidder wins and pays his winning bid d. all of the above
Voluntarism includes methods for dealing with pollution that
a. carry no legal authority. b. call the problems of pollution to the public's attention. c. involve trying to persuade polluters to reduce or eliminate pollution voluntarily. d. include all of the above.
Industrial engineer Frederick Winslow Taylor was particularly rude in his recommendation that jobs be kept simple. He argued that the characteristics of lower-level workers were such that they should be assigned very limited decision rights and a narrow set of tasks. While certainly crude by today's standards, Taylor recognized that
A. broad task assignment eliminates the need for coordination. B. simple task assignment may improve overall productivity. C. simple task assignment is always dehumanizing. D. broad task assignment is necessary for complex jobs.