Quantitative forecasting that projects past data without explaining the reasons for future trends is called
A) scientific forecasting.
B) dumb forecasting.
C) empirical forecasting.
D) naïve forecasting.
D
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Most international trade takes place between countries that are far away from each other
Indicate whether the statement is true or false
The wealthiest 10 percent of the population owns about
A) 30 percent of all the wealth in the United States. B) 50 percent of all the wealth in the United States. C) 70 percent of all the wealth in the United States. D) 90 percent of all the wealth in the United States.
We say that money is a store of value because it represents:
A. a standard unit of comparison. B. a certain amount of purchasing power held over time. C. something you can directly offer, like any good or service, in exchange for some good or service you want. D. something you can use to purchase goods and services.
If production of an item results in negative external costs, then
A) the market price is below the socially preferred price that reflects the external costs. B) the market price is above the socially preferred price that reflects the external costs. C) market forces will always correct the problem. D) the market quantity is too low from society's point of view.