An example of splitting up the value chain would be the shipment of
a. refrigerators.
b. cellular Phones.
c. automotive dashboards.
d. automobiles.
c. automotive dashboards.
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The precautionary demand for holding money arises because
A) people want be able to make unexpected purchases or to meet emergencies. B) credit cards charge low interest rates, which makes money more attractive than credit. C) expected transactions are completed more easily with debit cards than with credit cards. D) people would rather hold money in the form of time deposits than in the form of hard currency.
In 2015, the average life expectancy at birth in the United Kingdom and other high-income countries was around ________ years
A) 60 B) 70 C) 80 D) 90
Export-led growth tends to
A) discourage competition in the global economy. B) exploit domestic comparative advantages. C) lead to unemployment among domestic workers. D) help firms benefit from diseconomies of large-scale production. E) lower the overall volume of imports.
Price elasticity of supply:
A. is the percentage change in the quantity supplied of a good or service divided by the percentage change in the price of the good or service. B. measures consumers' responsiveness to a change in price. C. is always a negative number. D. is the percentage change in the price of a good or service divided by the percentage change in the quantity supplied of the good or service.