Trade without serious income distribution effects is most likely to happen
A) in sophisticated manufactures trade between rich countries.
B) in simple manufactures trade between developing countries.
C) in sophisticated manufactures trade between rich and poor countries.
D) in agricultural trade between rich countries.
E) in labor-intensive industries like clothing.
A
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The purchase of less than 10 percent of the shares of ownership in a foreign company is referred to as a
A) negligible investment. B) foreign indirect investment. C) foreign direct investment. D) portfolio investment.
Grace is headed to work at a catering business as a waitress for $100. Her sister Paige calls and asks her to go horseback riding instead. Grace decides to go to work, which implies Grace's opportunity cost of working is:
A. greater than $100. B. less than $100. C. equal to $100. D. no more than $100.
What is the type of economic system that relies on one central authority to make economic decisions?
A) free market B) price system C) command and control D) mixed economic system
Suppose a perfectly competitive firm is experiencing zero economic profits. In an effort to increase profits, the firm decides to initiate an advertising campaign for its product. The most likely short-run result of this campaign, ceteris paribus, would be
A. The ability to sell more at a lower price. B. Economic losses for the firm. C. The ability to sell more at the existing market price. D. The ability to sell more at a higher price.