Goods and services sold to foreign buyers are
A. The terms of trade.
B. Exports.
C. A trade embargo.
D. Imports.
Answer: B
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What did the Proclamation of 1763 and the Quebec Act of 1774 represent?
(a) A continuation of earlier British land policies, but these were no longer workable or acceptable to the colonists (b) A temporary change in British land policies, but the change was not workable or acceptable to the colonists (c) A permanent change of earlier British land policies that was not acceptable to the colonists, who wanted a continuation of the old policies (d) The Proclamation was more of a temporary change, but the Quebec Act represented a permanent change of earlier policy, neither of which was acceptable to the colonists
The manager of Slick Lens, a sunglasses manufacturer, notices that the cost to purchase lenses for their sunglasses in the spot market has increased. As a result of the change, which of the following is true?
A) The manager has more of an incentive to integrate backward. B) The manager has less of an incentive to integrate backward. C) The manager has more of an incentive to integrate forward. D) The manager has less of an incentive to integrate forward.
Adam Smith's theory of absolute advantage is based on the labor theory of value.
Answer the following statement true (T) or false (F)
If the CPI increases from 110 to 125 for one year, the rate of inflation for that year is
A. 1.13 percent. B. 13.6 percent. C. 15 percent. D. 50 percent.