Bolivia's government attempted to solve some of its problems with inequality of outcomes due to foreign investment in its natural gas resources by:
a. taxing international firms.
b. insisting that the firms pay higher wages to workers in the industry.
c. shutting down the firms in the wake of protests.
d. nationalizing the firms by reclaiming 51% ownership and raising taxes on foreign profits.
Ans: d. nationalizing the firms by reclaiming 51% ownership and raising taxes on foreign profits.
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Refer to Figure 11-4. Within a country, the impact of wars and revolutions and their subsequent destruction of capital is reflected in the per-worker production function in the figure above by a movement from
A) B to A. B) E to B. C) B to C. D) A to C.
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 required these to be traded in established, regular markets:
a. equities b. derivatives c. credit default swaps d. both b and c.
Evaluate the statement: All minimum wage workers will be better off if the minimum wage rises.
What will be an ideal response?
If a 5 percent increase in price causes a 10 percent increase in quantity supplied, then supply is
A. infinite. B. unit elastic. C. elastic. D. inelastic.