Several related measures of cost can be derived from a firm's total cost
a. True
b. False
Indicate whether the statement is true or false
True
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The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO
All of the following are reasons for these anti-globalization protests except A) protesters believe that free trade destroys the distinctive cultures of many countries. B) protestors believe the WTO favors the interests of high-income countries at the expense of lower-income countries. C) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment. D) protesters believe that tariffs are needed to protect domestic firms from foreign competition.
If marginal profit is negative when the firm produces one more unit, then the firm is currently maximizing profits.
Answer the following statement true (T) or false (F)
Sue: "I much prefer eating at the El Grande Mexican Restaurant to the others in town because all of their employees are Mexican and speak Spanish. It gives the place a real 'authentic' feel." Which of the following is true about the above statement?
a. This is an example of customer-based discrimination for one group of employees over another. b. If many customers felt the same way Sue does, there would be pressure for firms to satisfy this consumer preference in their hiring. c. Despite customer preferences, we would expect the restaurants in town to hire equally from all racial and ethnic groups. d. Both a and c are correct.
The Congress of Industrial Organization (CIO) was founded by
A) Samuel Gompers. B) Jimmy Hoffa. C) John L. Lewis. D) George Meany.