Georg, a German citizen, just purchased 10 shares of stock in Microsoft, a U.S. company. This purchase is an example of
A) foreign public investment. B) foreign direct investment.
C) contractual globalization. D) foreign portfolio investment.
D
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Fact: People use water for many different purposes, from drinking and cleaning to filling pools, balloons, and squirt guns. Economists acknowledge the multiple uses of water when they point out that
A) everybody needs water. B) water is a good with many alternative uses at the margin. C) the demand for water is completely inelastic—consumers are totally insensitive to changes in the price of water. D) nothing but water can be used to serve all the purposes water serves.
When a collective consumption good become congested _____
a. nothing happens b. it moves closer towards being a purely private good c. free riding becomes more of a problem d. exclusion becomes impossible
A sales tax is a tax on the:
A. earnings of individuals and corporations. B. income earned by buying investments and selling them at a higher price. C. wages paid to an employee. D. value of a good or service being purchased.
Which of the following situations could generate a shortage?
A) Demand for a good increases, resulting in a new higher market clearing price. B) Demand for a good decreases, resulting in a new lower market clearing price. C) Demand for a good increases, but the price is not permitted to rise. D) Demand for a good decreases, but the price is not permitted to fall.