Sydney Roofers Incorporated recently purchased 100 pounds of standard roofing nails from Lowes, a nationwide hardware and building supplies store. This transaction most likely involves:
A. contract or vertical integration.
B. spot exchange.
C. contract.
D. vertical integration.
Answer: B
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Assume that the dollar price of a basket of goods in the U.S. is $3 and the dollar price of a basket of goods in China is $5. On the other hand, the yuan price of the basket in the U.S. is 20 yuan
Given this information, the yuan price of the Chinese basket is: A) 30.50 yuan. B) 33.33 yuan C) 105.50 yuan D) 26.50 yuan.
Suppose an attorney has hired a very well-educated secretary that is not only more productive in filing briefs but also more productive at typing than he is
Can you provide any explanation for why it might still make sense for him to continue filing briefs while the secretary continues to do the typing?
Tom has a PhD in history and teaches at the local college where he earns $75,000 a year. Truth be told, Tom loves teaching so much, he would gladly do it for $45,000. Which of the following can be said?
A. Tom's economic rent is worth $30,000. B. Tom's producer surplus is worth $30,000. C. The value of Tom's marginal product is $75,000. D. All of these statements are true.
The twin economic problems of the U.S. health care industry are the
A) rising health care costs and the declining quality of health care services. B) rising health care costs and the rising malpractice insurance costs. C) rising health care costs and the moral hazard problem in health care services. D) declining rate of immunization rates and the rising malpractice insurance costs.