Recall the Application about how technological advances in another country may hurt the United States to answer the following question(s). In this Application, how does China manage to gain access to the latest intellectual property of companies in the United States?
A. By requiring American firms to have joint partnerships with Chinese companies if they want to do business in China.
B. Through espionage.
C. Through Google searches.
D. When American companies sell technology to the highest bidder.
Answer: A
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In economics, the term "capital" refers to
A) the money in one's pocket. B) buildings and equipment. C) mineral resources. D) consumer goods.
The role of unions is:
A. unnecessary if the market does a good job of determining fair wages. B. to provide firms with a mechanism to more efficiently fire less productive workers. C. gaining power in the United States. D. All of these statements are true.
Suppose a consumer is willing to pay a maximum of $45 for a brand of perfume whose price increases from $37 to $41 . What will be the impact of this price rise on the consumer surplus?
a. Consumer surplus will increase by $8. b. Consumer surplus will decline by $8. c. Consumer surplus will increase by $4. d. Consumer surplus will decline by $4.
A U.S. company begins selling its products in France. Despite brisk sales, the company doesn't make enough profit to cover its expenses. When setting prices, the company simply used the same prices in both countries. For example, $5.99 = 5.99 French francs; $2.89 = 2.89 French francs. What risk of international business did the company not consider?
A. Language variations B. Currency fluctuations C. Differences in laws D. Opportunity costs