The outer loop of the circular-flow diagram represents the flows of dollars in the economy. Which of the following does not appear on the outer loop?
a. wages
b. income
c. capital
d. rent
c
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If a nation is a net importer it means that the:
A) nation only imports goods and services and does not export any good. B) nation only imports those goods in which it has an absolute disadvantage. C) nation's imports are worth more than exports over a given period of time. D) nation prohibits the import of goods and services that can be produced domestically.
If High Tech Tablets brings a new personal tablet at a price of $200 for the first three months and then reduces the price of the tablet to $125, this is an example of ________.
A) first-degree price discrimination B) arbitrage C) market segmentation D) second-degree price discrimination
The opportunity cost of something is what you give up to get it
a. True b. False Indicate whether the statement is true or false
One of the mechanisms to replace poor management is to
A. pay more to the senior management. B. fire the union leaders who create an environment of mistrust. C. fire the low-level workers who are inefficient. D. tender offers and mergers.