Which one of the following was the strategy followed by Japanese industrialists after World War II?
A. They sold low-priced goods to the low end of the American market while they rebuilt their industrial base.
B. They charged Japanese consumers much lower prices than they charged American consumers, since Americans could afford to pay more for these goods.
C. They sold high-priced goods to the high end of the American market, leaving the low end to Korea and Taiwan.
D. They received tens of billions of dollars in aid from the U.S. government and have still not paid back a penny.
A. They sold low-priced goods to the low end of the American market while they rebuilt their industrial base.
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Suppose a nation has a total population of 100,000,000. Out of that, 60% are in the labor force and 55,000,000 people are employed. What is the nation's unemployment rate?
A) 5.0% B) 8.3% C) 9.1% D) 10.9%
The "unfair-competition" argument might be cited by an American who believes that
a. almost every country has a comparative advantage, relative to the United States, in producing almost all goods. b. young industries should be protected against foreign competition until they become profitable. c. the American automobile industry should be protected against Japanese firms that are able to produce automobiles at relatively low cost. d. the French government's subsidies to French farmers justify restrictions on American imports of French agricultural products.
Externalities are benefits or damages conferred upon people who are directly involved in an exchange of a good or service.
Answer the following statement true (T) or false (F)
Suppose a new contracting environment that requires greater specialized investments is considered. This new contract will result in:
A. a decrease in the marginal benefit and a shorter optimal contract. B. a decrease in the marginal benefit and a longer optimal contract. C. an increase in the marginal benefit and a longer optimal contract. D. an increase in the marginal benefit and a shorter optimal contract.