Included on the board of directors of Microsoft are John W. Stanton, the chairman of Trilogy Equity Partners, the president of Harvey Mudd college Maria M. Klawe, and the former vice chairman of Bank of America Charles H. Noski
These three board members do not have a direct management role with Microsoft and are therefore referred to as
A) competitive directors. B) outside directors.
C) inside directors. D) honorary directors.
B
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With regional specialization, a nation is bound to suffer some mismatch unemployment. For example, in the early 1990s the highest regional unemployment rate was in
A) California. B) the South. C) the Midwest. D) none of the above because the unemployment rate as essentially equal in all regions.
Workers displaced by trade eventually find jobs in
a. another country. b. the government sector. c. the industries in which the country has a comparative advantage. d. a different company in the same industry.
When imports exceed exports there is a(n):
A. trade balance. B. trade deficit. C. trade surplus. D. output gap.
Society will produce ________ if price and marginal cost are equated for all firms.
A. the minimum output B. the efficient mix of output C. no output D. the maximum output