U.S. farmers export canned sweet corn to Germany, which lowers the price to a German consumer by a few cents. The benefits to Germany of this international trade deal are ________
A) concentrated in the hands of a few German farmers
B) nonexistent
C) spread out among millions of German consumers
D) immeasurable
E) borne solely by the government
C
Explanation: C) The benefits of international trade are not always easily recognizable, as they are spread out among millions of consumers. People benefit from lower-priced products, although the price reductions may only save people a few cents. But the sum of these lower prices for the public at large can be dramatic–especially over time.
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Jabari Manufacturing, a widgets manufacturing company, divides its production operations into three processes—Department 1, Department 2, and Department 3. The company uses a process costing system. Jabari incurred the following costs during the year to produce 4800 units:
If Jabari could sell only 3100 units during the year, what will be the cost per unit of widget produced? (Round your answer to the nearest cent.)
A) $5.00
B) $3.54
C) $10.97
D) $7.08
A Gantt chart is
a. a specific type of pie chart that places the most important information at the twelve o'clock position. b. a flow chart that can track more than one process simultaneously. c. a specific type of bar chart that is useful for tracking progress toward completing a series of events over time. d. a line chart that depicts changes in quantitative data and illustrates trends.
Where should the Federal Trade Commission (FTC) franchise notice appear?
A) in the licensing agreement between the franchisor and franchisee B) as a separate clause in the franchise agreement C) on the cover of a franchisor's required disclosure statement D) on the cover of a franchisee's required disclosure statement
Tina is a real estate broker who has been asked to sell a property by a client. The property is exactly what she has wanted for herself. She knows the seller is unaware of the value of the property and is relying on her to make the best decision. She knows if she markets it aggressively, she can get several thousand dollars more for the property than the seller is asking. Tina talks to her son and asks him to buy the property in his name, with her funds, and to transfer the property to her after the transaction is completed. She contacts her client and tells him she has a buyer ready who is offering to purchase the property for a thousand dollars over the listing price. The seller agrees to the sale unaware of the other issues involved. As it relates to the topic of this chapter, which of
the following best describes Tina's actions? A. Tina has sacrificed a thousand dollars more than she needed to pay for the property. B. Tina has no ethical issues because the seller received more money in the transaction than the listing price. C. Tina has knowingly engaged in a conflict of interest. D. Tina helped her client enter a transaction in which everyone benefitted.