Profit is a guaranteed return to the entrepreneur
Indicate whether the statement is true or false
F
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Countries with high wages cannot export to low wage countries
Indicate whether the statement is true or false
The invisible hand's ability to coordinate the decisions of the firms and households in the economy can be hindered by
a. government actions that distort prices. b. increased competition in markets. c. enforcement of property rights. d. too much attention paid to efficiency.
The relevant market argument was used successfully by
A. Alcoa. B. DuPont. C. both Alcoa and DuPont. D. neither Alcoa nor DuPont.
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.