Which of the following statements accurately expresses evidence that globalization does not encourage a "race to the bottom" in labor standards?
a. The wages paid by multinational firms to their poor countries' subsidiaries are higher than the wages paid in rich countries.
b. Poor countries that participate in globalization have quickly become rich.
c. Multinational firms tend to pay higher wages than local firms, but they tend to provide lower benefits than existed in the country prior to globalization.
d. Multinational firms must sign contracts with the IMF stating that they will offer exceptional worker benefits.
e. Multinational firms tend to pay higher wages than local firms and tend to provide greater benefits for workers than existed in the country prior to globalization.
e
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A. the long run market supply curve is horizontal at the market price. B. the long run market supply curve is vertical at the market price. C. the short and long run market supply curves are the same. D. there is a known and limited number of potential suppliers that can produce a good in the long run.
Goods with few available substitutes tend to have inelastic demand curves
a. True b. False Indicate whether the statement is true or false
Looking at the record of concentration in the United States during the last century, one finds concentration has
a. steadily increased. b. risen dramatically in the past 15 years. c. changed very little. d. fallen steadily except in wartime.
The Federal Reserve does not target both the money supply and an interest rate because
A) it would be too confusing to Wall Street and would disrupt the financial markets. B) it would be too easy for Wall Street to determine what policy the Fed is following and this would destabilize the economy. C) it would be illegal according to the Federal Reserve Act. D) the Fed cannot achieve a target for both the money supply and an interest rate at the same time.