A corporation that operates in several countries, but produces all of its output in its domestic country, is called a(n)
a. sole proprietorship
b. international partnership
c. multinational corporation
d. international corporation
e. domestic corporation
D
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Mark started taking guitar lessons when all his cousins started playing guitar. This is an example of ________
A) peer effect B) moral hazard C) adverse selection D) a pecuniary externality
Of the following countries, which had the highest level of GDP per capita in 2014?
A) the United States B) Italy C) France D) Japan
Which of the following is NOT a criticism of international institutions such as the IMF, the World Bank, or the WTO?
A) They lack openness in their decision-making process. B) They violate national sovereignty by imposing unwanted domestic policies. C) They fail to understand the effects of their policies on the vulnerable. D) Their decision making is biased in favor of underdeveloped nations and against the interests of nations already industrialized. E) They ignore potentially large adjustment costs for developing nations of implementing their policies.
If MPC = 0.80, how much should government spending change to increase real GDP by $500?
a. ?100. b. +80. c. ?80. d. +500. e. +100.