Which of the following actions should be discussed with an attorney before undertaking as the action could be considered legal?
A) an agreement with a competitor firm not to bid on a contract
B) an agreement with a competitor firm to set prices
C) an exclusive dealings contract with a customer
D) an agreement with a competitor firm submit a low bid on a contract
C) an exclusive dealings contract with a customer
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Which of the following organizations was NOT the result of the Bretton Woods Conference in 1944?
A) the League of Nations B) the General Agreement on Tariffs and Trade C) the International Monetary Fund D) the International Bank for Reconstruction and Development
The invisible hand refers to the coordination that occurs from:
A. everyone working in his or her own self-interest. B. a government agency finding efficiencies. C. everyone working for the overall good of society. D. a government coordinating economic activity.
If Colombia has a comparative advantage over Mexico in the production of coffee, then:
A. Colombia probably sells coffee to Mexico. B. Mexico is more productive at making coffee than Colombia. C. Colombia has the ability to produce more coffee than Mexico with the same resources. D. Mexico should trade coffee to Colombia.
During a period of stagflation, should more emphasis be placed on reducing unemployment or on lowering the rate of inflation?
What will be an ideal response?