When are businesses likely to outsource some of their activities?
Like decisions to integrate, decisions to outsource also depend on the relative costs and benefits of internal and external activities. Businesses are more likely to outsource when performance is easy to measure, alternative suppliers are available, and contracting is not costly.
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Esther wants to buy a used car from her neighbor, who quotes a price of $18,000. Esther negotiates with her neighbor and offers him $16,500 for the car. This is an example of ________
A) bilateral bargaining B) collective bargaining C) arbitration D) speculation
Assume the price of good X increases. As a result, your real income decreases and you decrease the quantity of good X purchased each month. This is an example of the:
A. income effect. B. consumer price effect. C. revenue effect. D. substitution effect.
Suppose per capita real GDP grows by 10% per year. Based on the Rule of 70, approximately how many years will it take for the level of per capita real GDP to double?
A. 7 years B. 70 years C. 10 years D. none of these
A nation can finance a deficit on its current account with
A. a surplus on its capital account. B. a deficit on its capital account. C. official purchases of foreign currencies with its own currency. D. purchases of gold from foreign currencies with its own currency.