A period of time in which the overall pace of business activity is rising is known as
A. a contraction.
B. deflation.
C. inflation.
D. an expansion.
Answer: D
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The text argues that if avocado growers in Mexico can produce avocadoes cheaper than avocado growers in the United States, this will not reduce total jobs available in the United States. The logic underlying this argument is that
A) avocado growers in the United States did not earn much anyway. B) avocado growers in the United States are welcome to emigrate to Mexico. C) avocado growers in the United States will switch to specializing in a crop in which they hold the comparative advantage. D) avocado growers in Mexico need the jobs more than Americans do.
When each box in an organization chart contains individuals who specialize in some field, then the activities in the organization are categorized by _____
a. divisionalization b. functionalization c. decentralization d. de-integration
The interest rate on U.S. government securities is often called the
a. prime rate b. public discount c. riskless rate d. superior rate e. universal discount
Compared with a monopolist, the demand curve faced by a monopolistically competitive firm is
A. more inelastic. B. perfectly elastic. C. more elastic. D. perfectly inelastic.