McDonald's Corporation lost a battle to keep a Singapore firm, Future Enterprises, from selling goods under the labels MacNoodles, MacTea, and MacChocolate. In this case, the court system in Singapore was defining:
A. property rights.
B. globalization.
C. limited liability.
D. consumer sovereignty.
Answer: A
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In the early 1900s, Henry Ford revolutionized the automotive manufacturing industry by instituting the assembly line. What impact did the assembly line method for producing automobiles have on the per-worker production function for Ford?
A) It became linear. B) It shifted down. C) It shifted up. D) It became flatter.
Absolute advantage is based on opportunity cost
a. True b. False
A Portuguese company exchanges euros for $60,000 from a U.S. bank. The Portuguese firm then uses the dollars to purchase $60,000 of canning equipment from a U.S. company. As a result of these two transactions alone
a. both U.S. net capital outflow and U.S. net exports rise. b. U.S. net capital outflow rose and U.S. net exports fall. c. U.S. net capital outflow fell and U.S. net exports rise. d. both U.S. net capital and U.S. net exports fall.
An example of price discrimination is the price charged for:
A. coffee. B. college admission. C. cashmere sweaters. D. cough syrup.