Which of the following markets has the most restrictive geographic boundary?
A) The market for retail gasoline
B) The market for housing
C) The market for gold
D) The market for beef
B
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Firms use incentives to pursue their most fundamental goal, which is to maximize
A) profits. B) sales revenue. C) worker satisfaction. D) worker pay.
When a transfer price increases
a. the profits of the division producing the intermediate product will rise b. the profits of the division producing the intermediate product will fall c. the costs of the division producing the intermediate product will rise d. the costs of the division producing the intermediate product will fall
The real interest rate is calculated by subtracting inflation from the nominal interest rate
a. True b. False Indicate whether the statement is true or false
All of the following are reasons that trade between nations is beneficial EXCEPT
A) gains from specialization. B) exchange of ideas. C) protection of domestic industries. D) gains from trade.