In a competitive labor market, if the supply of labor increases, wages will:
A. increase.
B. decrease.
C. remain the same.
D. drop to zero.
B. decrease.
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Which entry strategy involves the least commitment with foreign firms?
A) establishing a partnership with a foreign agent or distributor B) a merger with foreign firm C) a joint venture with foreign firm D) master franchising
An economic model is a(n)
a. philosophical inquiry b. set of numbers that describe a firm (e.g., profits and assets) c. abstract representation of reality d. concrete representation of reality e. ideal to which economic entities are compared
Suppose we were analyzing the pound per Swiss franc foreign exchange market. If Switzerland's central bank intervenes to raise the value of the Swiss franc, then:
a. The demand for Swiss francs in the foreign exchange market rises, and Switzerland's monetary base falls. b. The supply of Swiss francs in the foreign exchange market rises, and Switzerland's monetary base rises. c. The supply of Swiss francs in the foreign exchange market rises, and Switzerland's monetary base falls. d. The demand for Swiss francs in the foreign exchange market rises, and Switzerland's monetary base rises. e. The demand for Swiss francs in the foreign exchange market rises, and Switzerland's monetary base remains unchanged.
One of the consequences of an agricultural price support program is
A) a surplus. B) more exchanges made at the price support. C) lower prices paid by consumers. D) lower taxes for taxpayers. E) a and c