Free trade is a zero-sum activity because a country always gains at the expense of its trading partner.
Answer the following statement true (T) or false (F)
False
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If a U.S. firm invites foreign officials to an industry conference and pays for foreign officials to have a modest lunch at the conference, the Foreign Corrupt Practice Act (FCPA) would ________ consider the lunch to be a facilitating payment and would ________ consider the act to be illegal.
A) likely; likely B) likely not; not likely C) likely; not likely D) likely not; likely
The short-run average cost curve shows the lowest possible average cost corresponding to each output level, assuming that all inputs are variable
a. True b. False Indicate whether the statement is true or false
If workers received a 5 percent wage increase and the rate of inflation was 5 percent, then their real wage:
A. remained constant. B. equaled the nominal wage. C. increased. D. decreased.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point D to Point B, the opportunity cost of hybrid cars, measured in terms of motorcycles,
A. initially increases, then decreases. B. increases. C. remains constant. D. decreases.