When U.S. computer companies hire workers in India to staff their customer service call centers, they are engaging in
A) predatory pricing.
B) unfair trade practices.
C) outsourcing.
D) labor engagement.
C
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Price ceilings often generate
A) market clearing prices. B) rapid increases in supply to meet the excess demand. C) equilibriums that utilize rationing by price. D) black markets.
The two most important rationales for government intervention in non-monopolistic markets are
A) market failure and asymmetric information. B) substandard products and job creation for public employees. C) job creation and income maintenance. D) unfair pricing and usury.
Suppose that your income during Year X was $50,000 . and the CPI for Year X was 150 (base year = Z=100). Back in Year Z your income was $30,000 . Has your real income increased or decreased from Z to year X? By how much?
a. Increased by $5,000. b. Increased by $3,333. c. Unchanged. d. Decreased by $3,333. e. Decreased by $5,000.
Productive efficiency requires production at a quantity such that:
a. MC = MR b. MC = ATC c. MC = D d. ATC = D