Regarding open economies, economists tend to find evidence that
A. the more closed an economy is, the higher the rate of growth the economy will experience.
B. open economies tend to have access to smaller markets than do closed economies.
C. free trade encourages a more rapid spread of technology, and hence increases economic growth.
D. trade tariffs tend to improve economic growth.
Answer: C
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In the above table, saving must be
A) -$300 billion. B) $300 billion. C) $400 billion. D) -$400 billion.
In 1950 there were approximately 7 working age people for every elderly person; however, in 2050 there will be
a. only 2.5 working people for every elderly person. b. only 5 working age people for every elderly person. c. 10 working age people for every elderly person. d. 14 working age people for every elderly person.
Which of the following is Walmart's competitive advantage in Mexico?
A) Walmart purchased all Mexican retail chains and eliminated competitors. B) Walmart is able to transfer its "everyday low prices" concept to Mexico. C) Walmart offers affordable, unique products for niche markets in Mexico. D) Customers prefer to buy from American companies instead of
Refer to Scenario 7.6 below to answer the question(s) that follow. SCENARIO 7.6: Upon graduating with an accounting degree, you open your own accounting firm of which you and your assistant are the only employees. To start the firm you passed on a job offer with a large accounting firm that offered you a salary of $50,000 annually. Last year you earned a total revenue of $120,000. Rent and supplies last year were $50,000. Your assistant's salary is $30,000 annually.Refer to Scenario 7.6. Your annual operating profit is
A. -$10,000. B. $40,000. C. $70,000. D. $80,000.