Globalization aids geographic divisionalization in an organization
Indicate whether the statement is true or false
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The Smoot-Hawley tariff triggered a trade war during the Great Depression of the 1930s
Indicate whether the statement is true or false
Which of the following statements is true?
A) Explicit costs are accounting costs, not economic costs; implicit costs are economic costs, not accounting costs. B) Economic costs include both explicit costs and implicit costs. C) An explicit cost is an actual cost; an implicit cost is a theoretical cost. D) An explicit cost is more important, dollar for dollar, than an implicit cost.
A metal-stamping factory moves next to a day care center. Noise from the factory makes it impossible for the kids to nap. It would cost the factory $5 million to move; it would cost $1 million for the day care center to move. Sound insulation for the factory costs $1 million; insulation for the day care center costs $200,000 . The court initially determines that the day care center has the
property right and orders the factory to purchase insulation for the day care. But on appeal the factory is awarded the property right. How would the optimal solution to this problem change after the appeals court decision? a. The insulation would still be bought, but it would be bought by the day care center, a result consistent with the Coase theorem. b. Insulation for the factory would be bought instead of insulation for the day care center, a result consistent with the Coase theorem. c. Insulation for the day care center would still be bought, but it would be bought by the factory, a result consistent with the Coase theorem. d. Insulation for the factory would be bought instead of insulation for the day care center, a result inconsistent with the Coase theorem. e. The day care center would move instead of buying insulation, a result consistent with the Coase theorem.
When the economy operates well below its productive capacity, an increase in any spending— whether it's government's or the private sector's—tends to be reflected primarily in a(n)
a. lower level of employment b. increase in price c. lower level of output d. higher level of output and employment e. increase in business inventories