Wage rate differentials between nations are likely to narrow as
a. the MRPs of workers in high-wage countries increase
b. noncompeting labor markets become more prevalent
c. workers move more freely to high-wage countries
d. capital migrates to high-wage countries
e. workers in high-wage countries become more educated
C
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The consumption contract curve
A. is always a straight line. B. is the locus of Pareto optimal points. C. will always have the same MRS. D. is always negatively sloped.
According to the World View article that compares GDP per capita figures for several nations, which of the following nations has the highest GDP per capita?
A. Great Britain. B. United States. C. Japan. D. China.
If you want a say in the management of a corporation, you should buy
A) common stock. B) preferred stock. C) bonds. D) either bonds or preferred stock.
Suppose a firm wanted to go out of business. The firm sells all its assets and pays off everything it owes to creditors. The stockholders would receive
A) nothing. B) their annual dividend payment. C) one half of the funds; the other half of the funds goes to bondholders. D) the rest of the funds, after everyone who has a claim against the firm is paid.