A large number of U.S. firms send jobs to low-wage nations as it enables them to:
a. raise the price of their products.
b. reduce their cost of production.
c. get better quality products.
d. obtain diversified products.
e. politically dominate the economies where they are offshoring.
b
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The currency adopted by most countries in ________ is referred to as the euro
A) Western Europe B) Europe and Asia C) Southern Europe and Northern Africa D) Eastern Europe
Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. At a price of $6, the quantity demanded in the market would be
A) 87 lbs. B) 95 lbs. C) 103 lbs D) 215 lbs.
An increase in the expected rate of inflation is most likely to cause an increase in ________
A) the ex post real interest rate B) the ex ante real interest rate C) the nominal interest rate D) the expected real interest rate E) none of the above
The average person spends _________ of waking hours in some form of communication
a. 10 b. 20 c. 70 d. 90