Citigroup is an example of:
A. a unit bank.
B. a financial holding company.
C. an Edge Act corporation.
D. a foreign bank.
Answer: B
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In 1975, wage levels in South Korea were roughly 5% of those in the United States
It is obvious that if the United States had allowed Korean goods to be freely imported into the United States at that time, this would have caused devastation to the standard of living in the United States, because no producer in this country could possibly compete with such low wages. Discuss this assertion in the context of the Ricardian model of comparative advantage.
The issuance of new stocks or bonds are examples of
A) indirect finance. B) direct finance. C) financial intermediation. D) All of the above.
Suppose that in Slovakia one unit of labor can produce either 20 tons of wheat or 40 tons of soy and in Poland one unit of labor can produce either 40 tons of wheat or 20 tons of soy. If each country has two units of labor, which of the following consumption combinations can be attained only with trade?
A. Slovakia consumes 80 tons of soy. B. Poland consumes 40 tons of wheat and 20 tons of soy. C. Slovakia consumes 30 tons of both soy and wheat. D. Poland consumes 80 tons of wheat.
Cartel agreements are difficult to maintain because individual members:
a. can gain by raising their price above the price that is best for the cartel. b. are often unable to police the price and output policies of other members. c. can gain by secretly raising their price above the price that is best for the cartel. d. can enforce price arrangements vigorously in court.