To minimize costs, firms should have plants close to every market
Indicate whether the statement is true or false
FALSE
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Joe is shopping for a new computer. A computer can be delivered to Joe's home for $1,200. Alternatively, Joe can pick up the same computer at the warehouse for $1,000. How should Joe buy the computer?
A. Joe should drive to the warehouse because $1,000 is less than $1,200. B. Joe should drive to the warehouse if his cost of driving to the warehouse is less than $200. C. Joe should drive to the warehouse because the $200 he would save by driving to the warehouse is more than 10% of the purchase price. D. Joe should drive to the warehouse if his cost of driving to the warehouse is greater than $200.
In general, what is the final result of trade barriers?
What will be an ideal response?
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.
To keep the price of gas from rising quickly after a hurricane, the government sometimes institutes price ceilings on the price of gasoline. These price ceilings cause ________ in the gasoline market.
A. surpluses B. shortages C. movement of the demand curve D. movement along the demand curve