Most MNEs generate a majority of their revenues in their home regions.
a. true
b. false
b. false
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In order to obtain an efficient allocation of resources worldwide
A) countries that have a lot of resources should ship resources to countries that do not have a lot of resources. B) countries that have a lot of resources should not trade since poorer countries cannot compete. C) each country should produce the good they have a comparative advantage in and then trade. D) no trade among countries should occur.
What was not a problem with using commodity money in the US colonies prior to 1700?
a. Very few people were willing to accept commodities as payment. b. Commodity spoilage rates were high. c. Controlling the quality of payments made with commodities. d. High storage costs of commodities.
Anna's Antiques expects to get three bidders for the unique china teacup it sells. Each of the bidders can either have a high-value of $100 or a low-value of $70 with equal probability. If three bidders show up at the auction and all of them are high-value bidders, what would the winning bid be?
a. Just above $100 b. $100 c. Just above $70 d. $70
Assuming one can derive a correct input-output table, are there still any reasons to prefer the market to central planning?