A major challenge faced by Western Union in wiring money between the United States and Mexico is that ________.
A) it can only transfer funds in one direction
B) it is facing competition from some commercial banks
C) Mexican citizens do not like to use its services because it does not have strong ties with Mexican banks
D) Mexican citizens trust the banks but do not trust Western Union due to its heritage a
B) it is facing competition from some commercial banks
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By "specialization" economists mean a situation where
A) individuals produce the goods or services for which they have relatively the best ability. B) goods are traded directly for goods and money is not used. C) individuals who produce goods do not also produce services and individuals who produce services do not also produce goods. D) individuals are assigned to occupations on the basis of tests that gauge their relative abilities.
One way to increase economic efficiency in saving lives is to
a. shift resources toward methods with low cost per life saved b. shift resources toward methods with high cost per life saved c. allocate more resources to saving lives d. allocate fewer resources to saving lives e. move along the production possibilities frontier and increase the number of lives saved
The perpetual state of insufficiency of resources to satisfy people's unlimited wants is
a. apparent only in poor countries b. a contradiction that cannot be resolved c. completely unrealistic d. present in modern economies, but not in the past e. the definition of scarcity
While on the gold standard prior to 1914, an ounce of gold could be redeemed for ________ , after World War II it could be redeemed for ________
a. $4; $20 b. $4; $5 c. $20; $35 d. $4; $35