Most entrepreneurs become extremely wealthy.
a. true
b. false
Ans: b. false
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Independent firms that together can exploit economies of scale are referred to as a
A) T-form of organization. B) M-form of organization. C) network. D) weak alliance (the matrix).
In 1997, there was a speculative attack on the Thai baht. This resulted from the:
A. belief by speculators that the Thai central bank didn't have sufficient U.S. dollar reserves to maintain the current fixed rate. B. revelation that the Thai central bank had converted its gold reserves into foreign exchange. C. belief by speculators that the Thai central bank had an oversupply of U.S. dollar reserves. D. overthrow of the Thai president and the central bank.
Refer to the graph shown.
If suppliers can reduce output from M to L, the suppliers excluded from the market will lose the producer surplus shown by area:
A. F. B. D. C. E and F. D. E.
Which of the following is NOT a true statement regarding free trade?
A) Free trade promotes specialization and efficient production. B) Free trade generally reduces the domestic prices of imports. C) Free trade may stimulate economic growth through export sales. D) Every individual in a country gains short-term benefits from free trade.