Which of the following is the best example of a perfectly competitive firm?
A) a Taco Bell restaurant B) United Parcel Service (UPS)
C) a corn farmer in Illinois D) the Ford Motor Company
C
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Refer to the figure above. If the engineer spends his entire time producing computer programs, how many computer programs can he produce?
A) 12 B) 30 C) 45 D) 50
Which of the following is true of lags associated with discretionary policy?
a. Such lags extend only from the time a problem occurs in the economy through the time it is recognized by the government. b. Such lags extend only from the time a problem is recognized by the government through the time an agreed-on policy is approved of. c. Such lags extend only from the time a policy is approved through the time the policy is implemented. d. Such lags can be reduced by taxation. e. Such lags extend only from the time a problem occurs in the economy through the time a corrective policy has an impact on the economy.
Which of the following objectives is NOT a basis for international trade?
A. To gain from economies of scale. B. To obtain goods that would be unavailable otherwise. C. To obtain goods at lower prices than would be possible if they were produced domestically. D. To increase Treasury reserves of gold bullion.
The World Trade Organization has about ________ members.
Fill in the blank(s) with the appropriate word(s).