In order for an economy to grow, factors of production must ______.
a. remain stable
b. be scaled back
c. undergo change
d. be publicly owned
c. undergo change
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The condition of fully flexible wages and prices was assumed by
A) no economists. B) the classical economists. C) modern economists. D) the Keynesian economists.
An organization that brings together the factors of production is called
A) an industry. B) a conglomerate. C) a plant. D) a firm.
Pigovian taxes are used to counterbalance:
A. negative externalities. B. positive externalities. C. network externalities. D. They could be used to counteract any of these.
Foreign direct investment occurs when a company:
a. purchases foreign securities such as stocks and bonds. b. establishes foreign operating units. c. enters into a contractual agreement involving exchange of services and payments. d. engages in international trade. e. gives aid to a Third World country.