Which of the following workers is most likely to lose his/her job during a recession?
A. Barber
B. Farmer
C. Baker
D. Construction worker
Answer: D
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Ling-Temco-Vought (LTV) is an example of
a. a conglomerate. b. a vertical merger. c. a horizontal merger. d. a limited-liability partnership.
Average revenue for a perfectly competitive firm is equal to
a. price times output b. marginal revenue c. total revenue/marginal revenue d. output/total revenue e. zero
A freeze that destroys all of the Florida orange crop would result in
a. a lower price for orange juice as people will switch to Texas grapefruit juice b. a higher price for orange juice as people demand more orange juice c. no change in the price for orange juice d. a higher price for orange juice due to the decrease in supply of oranges e. a higher price for orange juice due to the increase in demand for oranges
Which of the following allows member countries to import from other member countries freely, but imposes trade barriers against imports from outside countries?
A. A trade embargo B. A trade bloc C. A trade union D. A cultural union