The labor supply curve is:
A) horizontal. B) downward sloping.
C) vertical. D) upward sloping.
D
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Susan quit her job as a teacher, which paid her $36,000 per year, in order to start her own catering business. She spent $12,000 of her savings, which had been earning 10 percent interest per year, on equipment for her business. She also borrowed $12,000 from her bank at 10 percent interest, which she also spent on equipment. For the past several months she has spent $1,000 per month on
ingredients and other variable costs. Also for the past several months she has earned $4,500 in monthly revenue. In the short run, Susan should a. shut down her business, and in the long run she should exit the industry. b. continue to operate her business, but in the long run she should exit the industry. c. continue to operate her business, but in the long run she will probably face competition from newly entering firms. d. continue to operate her business, and she is also in long-run equilibrium.
Which of the following would contribute to a U.S. balance of payments deficit?
A. Kawasaki builds a motorcycle manufacturing plant in Kansas City. B. U.S. tourists travel in large numbers to Europe. C. A wealthy Mexican citizen builds a mansion in Beverly Hills. D. Zaire pays interest on its debt to the United States.
What was the thesis to James O'Neill's paper where he introduced the BRIC acronym?
A) These nations were going to collapse. B) These were failing states and thus a treat to global stability. C) These economies were moribund and needed IMF assistance. D) These nations had the potential to change global trade and capital flows. E) These nations would repeat the patterns of development and business cycles as the United States and Europe had in their economic history.
Computer technology has enhanced a manager's ability to "know the customer."
Indicate whether the statement is true or false