The international trade bloc that liberalized the movement of capital and labor among its members is the:
A. North American Free Trade Agreement
B. North Atlantic Treaty Organization
C. European Union
D. World Trade Organization
C. European Union
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Workers who pursue an education directly increase their
A) financial capital. B) physical capital. C) human capital. D) saving.
Bonds can be risky investments because
a. bondholders are paid from whatever remains after stockholders have been paid what the corporation owes them. b. if the corporation loses its assets, the bondholders may never recover their investments. c. the general price level may fall. d. the voting power of an individual bondholder may be more apparent than real.
Which of the following is true regarding value, transaction costs, and exchange?
a. Middlemen can be viewed as agents who create value by reducing transaction costs and, thereby, facilitating gains from exchange. b. Middlemen fail to create value since they do not expand the supply of physical goods. c. A good or service has a given value regardless of who uses it or how it is used. d. Voluntary exchange reduces value by channeling goods into the hands of people who value them least.
Ceteris paribus, which of the following would cause a decrease in the demand for HD TVs, a normal good?
A. decline in the price of HD TVs. B. increase in the price of HD TVs. C. increase in consumers' income. D. decrease in consumers' income.