In a situation where a car salesman is selling cars on behalf of the dealer, the salesman is the
a. Principal
b. Agent
c. Both of the above
d. None of the above
b
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A firm with two or more owners who have unlimited liability is known as
A) a partnership. B) a proprietorship. C) a corporation. D) an establishment.
A person will choose to work another hour if the benefit of another hour of work is:
A. greater than the opportunity cost. B. exactly equal to the opportunity cost. C. less than the opportunity cost. D. exactly equal to the average total cost to the firm.
Foreign aid is given through which organization?
A. IBRD B. UNDP C. IDA D. Foreign aid is given through all these organizations.
Supporters of the World Trade Organization contend that it:
A. Imposes safeguards for worker safety in member nations B. Weakens the environmental laws in member nations C. Undermines minimum wage laws in member nations D. Liberalizes trade among member nations