Related to the Economics in Practice on p. 716: By 2001, the majority of the fishing fleet in the Indian state of Kerala had mobile phones. As a result of the introduction of mobile phone service, ________ in this fishing industry was virtually eliminated.
A. profit
B. competition
C. human capital
D. waste
Answer: D
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Which statement is false?
A. Throughout the 1980s, the Soviet Union devoted most of its capital and talent to its military establishment rather than to market reform. B. In the late 1970s, China began reforms, which eventually transformed it to a more market-oriented economy. C. Russia has been more successful than China in becoming a market-oriented economy. D. None of these statements are false.
Which of the following is an example of an industrial union?
A. The United Auto Workers. B. The AFL-CIO. C. The International Brotherhood of Electrical Workers. D. The Carpenters Union.
Corporations are able to raise large amounts of financial capital because
A. of limited liability and the treatment of a corporation as an individual entity. B. of their greater ability to monitor the performance of decision makers. C. of the tax breaks corporations are given relative to partnerships or proprietorships. D. of the elimination of the problem of separation of ownership and control.
Monthly payments on "exotic" mortgages are constant over the life of the mortgage.
Answer the following statement true (T) or false (F)