Your employer pays for the maintenance on your car. The monetary value of this car maintenance is
A. included in both economic and money income.
B. not included in either economic income or money income.
C. included in your economic income, but not your money income.
D. not included in your economic income, but included in your money income.
Answer: C
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The American manufacturers of Pet milk unknowingly introduced their product in French-speaking markets without realizing that the word pet in French means "to break wind." Likewise, the English-speaking representative of a U.S. soft-drink manufacturer naively drew laughs from Mexican customers when she offered free samples of Fresca soda pop, because in Mexican slang the word fresca means "lesbian." These are examples of ________.
Describe some of the problems in testing the Heckscher-Ohlin theory
What will be an ideal response?
When the supply of land is perfectly inelastic, the economic burden of an annual tax on land
a. falls entirely on the people who owned land when the tax was imposed. b. is passed on to future buyers of land in the form of higher prices. c. is split between present and future landowners. d. cannot be determined without information on the elasticity of the demand for land.
Government corruption
a. impedes the coordinating power of markets and discourages investment. b. impedes the coordinating power of markets but does not discourage investment. c. does not impede the coordinating power of markets, but does discourage investment. d. can neither impede the coordinating power of markets nor discourage investment.