Which of the following is NOT a firm-specific advantage of an MNE?
A. Native understanding of local customs
B. Patented technology
C. Marketing capabilities
D. Superior management technique
Answer: A
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Which of the following is the most common form of a business organization?
A) corporation B) partnership C) sole proprietorship D) subchapter S corporation
An inflationary gap occurs when
A. short-run aggregate supply falls, but other things remain constant. B. the short-run equilibrium level of real GDP is greater than long-run aggregate supply. C. the short-run equilibrium level of real GDP is less than long-run aggregate supply. D. aggregate demand falls, but other things remain constant.
Refer to the above table. If the price of a hamburger is $2, the price of a concert ticket is $60, and the consumer has $128, what is the consumer optimum?
A. 2 hamburgers and 2 concerts B. 3 hamburgers and 2 concerts C. 4 hamburgers and 2 concerts D. 2 hamburgers and 3 concerts
A software company writes a better operating system for personal computers and earns very large profits on this operating system. Which of the following is true?
A. The profits this firm earns aren't deserved, as the firm did not take any risks. B. The firm must be a monopoly. C. The profits this firm earns are a return for an innovation. D. This firm must not be in a competitive market if it was able to earn a profit.