Without the use of money, workers in an economy would:
A. probably specialize less
B. be far more productive
C. become more specialized
D. have to spend a lot less time trading
Answer: A
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If Slick Shades, a sunglasses manufacturer, purchases several local retail shops to sell their sunglasses, this is an example of ________.
A) divestiture B) forward integration C) backward integration D) outsourcing
Which form of business organization accounts for the largest proportion of business sales in the United States?
a. sole proprietorship b. partnership c. corporation d. nonprofit organization e. conglomerate
The U.S. Postal Service has found its monopoly eroded over time because
a. the demand for mail delivery has become more inelastic b. Congress has taken away their monopoly over first-class mail c. the U.S. Postal Service cannot handle the volume of transactions d. the price of stamps has increased relative to other substitutes, such as the telephone, email, and online transactions e. of the decline in the use of fax machines
Which of the following is true?
a. International trade makes it possible for a country's consumption possibilities to exceed its production possibilities. b. International trade requires that a country's production possibilities exceed its consumption possibilities. c. A country's production possibilities always equal its consumption possibilities. d. A country's consumption possibilities can never equal its production possibilities because of leakages in the system. e. As long as there is full employment of resources, a country's production possibilities will exceed its consumption possibilities even with trade.