________ refers to any one of several different arrangements that business parties negotiate so that they can trade goods and services with limited or no use of currency.
A) Factoring
B) Offset
C) Countertrade
D) Barter
C) Countertrade
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The short-run Phillips curve shows ________ between the unemployment rate and the inflation rate, and the long-run Phillips curve shows ________ between the unemployment rate and the inflation rate
A) a positive relationship; a negative relationship B) a negative relationship; a positive relationship C) no relationship; a negative relationship D) a negative relationship; no relationship E) no relationship; no relationship
One of the most important and most visible roles of the IMF is to
A) hold regular negotiations over tariff reductions. B) investigate countries that are charged with being unfair traders. C) provide loans to countries that need capital to develop their economies. D) intercede by invitation when countries cannot pay their international debts. E) serve as a forum for negotiating free trade agreements between groups of nations.
A farmer grows wheat and sells it to a bakery for $5 . The bakery uses the wheat to bake bread and sells it to a distributor for $20 . The distributor sells the bread to a supermarket for $30, which then sells the bread to customers for $50 . Which of the following is true? a. The value added by the distributor is $30
b. The value added by the supermarket is more than that added by the bakery. c. GDP rises by $50 plus the value added at each stage of production. d. Counting the value added at each stage instead of counting the final selling price creates a problem of double counting. e. The value added by the farmer is $20 because the wheat, which is worth $5, is necessary for each of the three remaining stages of production.
If the consumer gets 40 utils from consuming four CDs, 45 utils from consuming five CDs, and 48 utils from consuming six CDs, then the consumer's marginal utility from the sixth CD is:
A. 3 utils. B. 8 utils. C. 46.5 utils. D. 48 utils.