Which of the following is NOT identified by your text as a challenge to doing business in China?
A) Issues related to the business climate, such as taxes
B) The availability of credit
C) Licensing requirements
D) Failure to protect intellectual property
E) Poor infrastructure and port facilities to support export of products
E
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Refer to the table below. If the profit for each unit of paper product is $2 and the profit for each unit of lumber is $5, the profit-maximizing quantity of lumber and paper products is located between which to points on Big Oaks' production possibilities frontier?
Big Oaks can produce either paper products or lumber with each tree that they harvest. Because Big Oaks can adjust the amount of paper products and lumber they produce from the harvested trees, paper products and lumber are produced in variable proportions. The above table summarizes Big Oaks production possibilities from each harvested tree.
B and C
B) A and B
C) C and D
D) D and E
In the market for insurance, the adverse selection problem leads a. those most likely to collect on insurance to buy it
b. those who buy insurance to take fewer precautions to avoid the insured risk. c. those with less insurance to take on more risk. d. to none of the above.
When the government enacts policies to redistribute income,
a. the objective is to enhance efficiency and a side effect is that the allocation of resources becomes more equal. b. the objective is to enhance efficiency and a side effect is that the allocation of resources becomes less equal. c. the objective is to enhance equality and a side effect is that the allocation of resources becomes more efficient. d. the objective is to enhance equality and a side effect is that the allocation of resources becomes less efficient.
A policymaker in favor of stabilizing the economy would be likely to believe
a. recessions are a waste of resources. b. economies must suffer through the booms and busts of the business cycle. c. the long policy lags make implementing policy changes in response to recession too risky. d. policy increases the magnitude of economic fluctuations.