Which is NOT true about Adam Smith?
a. He was a leading advocate of free trade.
b. He developed the concept of absolute advantage.
c. He maintained that labor costs represent the major determinant of production cost.
d. He stated that a favorable trade balance is possible only in the short run, as over time it would automatically be eliminated.
d. He stated that a favorable trade balance is possible only in the short run, as over time it would automatically be eliminated.
You might also like to view...
An advantage of international expansion is that it can enable a firm to optimize the location of every activity in its value chain.
Answer the following statement true (T) or false (F)
In a service blueprint, activities are divided between those above and those below the line of ________ to a customer.
A. threshold B. distinction C. visibility D. motivation E. demarcation
Al Bondie is driving his car home from the garage where its brakes were repaired and hits Clare Davies, a pedestrian. Clare sues Al. Al thinks that his brakes were faulty and he wants to sue the mechanic
What is the name of the legal process by which Al can make a claim against his mechanic in the same lawsuit initiated by Clare? A) statement of claim B) statement of defence C) third party claim D) garnishment E) counterclaim
For any interest rate and for any period of time, the more frequently interest is compounded, the greater the amount of money that has to be invested today in order to accumulate a given future amount
Indicate whether the statement is true or false