Suppose you are the manager of Good Smells, a home fragrance firm. To make your fragrance, you purchase orange peels from orange juice manufacturers. If the demand for orange juice increases, this will cause the production of orange juice peels to ________ and the price of orange juice peels to ________.
A) decrease; rise B) increase; rise C) decrease; fall D) increase; fall
D) increase; fall
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On an annual basis, Americans spend about as much on health care as they do on
A) food. B) clothing. C) transportation. D) housing.
One advantage of the specialization that results from international trade is that countries can take advantage of
A) scale economies. B) production diversification C) smaller countries. D) taste reversals. E) lower transport costs.
Tiffany needs to assess the market risk in order to decide when to launch a new product. He decides to delegate the task of risk assessment to Joe who is a competent employee of the firm. Which of the following conclusions can be drawn from this?
a. Joe has the required tools and resources to carry out the order. b. Joe is above Tiffany in the hierarchy of this firm. c. The chances that Joe's assessment will be accurate are very high. d. Tiffany is well equipped to analyze the information he passes on to Joe.
Recent reforms in the U.S. welfare system have been aimed at reducing long-term dependency on welfare
Indicate whether the statement is true or false