Portfolio investment can generally travel across borders quickly because it usually involves:
A. the shipment of equipment from one place to another.
B. transfers between two bank accounts.
C. two governments agreeing on trade.
D. the hiring or firing of foreign workers.
Answer: B
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The cross-price elasticity of demand measures how sensitive purchases of a specific product are to changes in
A. the price of that same product. B. the price of some other product. C. the general price level. D. income.
April quit her job as an accountant at Ernst and Young, where she was paid $45,000 per year. She started her own landscaping business. She rents machines and tools for $50,000 and pays $10,000 as wages to her hel
A) Her accountant calculates her profit as $40,000. B) She has an economic loss. C) Her explicit cost is $105,000. D) Both answers A and B are correct. E) Both answers A and C are correct.
Well-established property rights and a pro-business climate are a step in the right direction, but ultimately they do little to encourage economic growth.
Answer the following statement true (T) or false (F)
The Lorenz curve shows
A) how poverty rates change over time. B) the percentage of population below the poverty line. C) the degree of inequality in the income distribution. D) the ratio of cash income to payments-in-kind.