Which of the following include the four basic resources supplied by households?
a. natural resources, labor, intelligence, capital
b. money, labor, natural resources, entrepreneurial ability
c. intellectual ability, physical ability, money, natural resources
d. labor, capital, intelligence, entrepreneurial ability
e. labor, natural resources, entrepreneurial ability, capital
D
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The proposal that trade agreements should include a system which monitors worker conditions and make the results available to consumers in the rich importing country
A) is consistent with the Invisible Hand paradigm. B) is consistent with the market failure approach. C) is consistent with the Ricardian theory of comparative advantage. D) is consistent with the scale economies approach to trade theory. E) is consistent with the principles laid out by the WTO.
Interest-rate risk can best be characterized as the risk that
A) you could have earned a higher interest rate if you waited to purchase a bond. B) fluctuations in the price of a financial asset in response to changes in market interest rates. C) you could have gotten a lower interest rate if you waited to lock in a mortgage. D) short-term interest rates may exceed long-term interest rates.
Graphically, market supply for a product:
A. is the horizontal difference of the individual supply curves. B. is the horizontal sum of the individual supply curves. C. is the vertical difference of the individual supply curves. D. is the vertical sum of the individual supply curves.
As a result of the government procurement policy in the U.S.:
a. the domestic consumers are required to pay a higher price than the world price for the domestically produced goods. b. the government wields the sole authority of importing goods from abroad. c. the government wields the sole authority of exporting goods. d. the domestic producers can charge the government a higher price for their products than they charge consumers. e. the government is required to sponsor research and development for the domestic firms.