A _____ between a parent company and the operator of a local outlet specifies each party's duties and the structure of payments that link them, and can turn the combined organization into a stronger competitor
a. volumetric interdependence
b. franchise contract
c. joint venture
d. buy-sell transaction
B
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The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.Turning PointDateReal GDP(1996 $ billions) (A)Feb. 19612352.9(B)Dec. 19693571.4(C)Nov. 19703566.5(D)Nov. 19734151.1(E)Mar. 19754010.0Which of the following periods was an expansion?
A. November 1970 through November 1973 B. December 1969 through November 1973 C. November 1970 through March 1975 D. December 1969 through November 1970
A comparative advantage is when a good can be produced at a(n) ________ cost in terms of other goods.
a. lower b. higher c. equal d. comparative
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Incentive problems in contractual relationships generate
A. costs that decrease value. B. costs that increase value. C. revenues that increase value. D. revenues that decrease value.