Which of the following is included in Germany's GDP?
i. BMWs produced in a German-owned factory in South Carolina
ii. the value of the stocks sold on the German stock exchange, the Frankfurt Stock Exchange
iii. china produced by the English-owned Wedgewood Company at a factory in Berlin, Germany
A) i and iii
B) ii only
C) iii only
D) i and ii
E) None of the above answers is correct.
C
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Regulation imposed by such organizations as the Food and Drug Administration or the Environmental Protection Agency seeking to protect the welfare of people in our nation is referred to as
A) moral regulation. B) natural regulation. C) rate-of-return regulation. D) social regulation.
Which of the following do development economists NOT recommend to nations seeking to increase their rates of economic growth?
A) protecting home producers from international competition B) letting creative destruction run its course C) promoting increased education D) promoting private property rights
A primary objective of labor unions is to
A) secure equal pay for its members. B) have equal power with their employer. C) seek better pay and improved work conditions. D) all of the above. E) none of the above.
An entrepreneur is a(n):
a. individual who has much education. b. organizer who seeks profitable opportunities and is willing to accept risks. c. business organization that uses inputs to produce output. d. depot or warehouse for commercial products.