Describe the significance of IMF quotas
What will be an ideal response?
To become a member of the IMF, a state must contribute a certain sum of money (expressed in SDRs) called a quota subscription. The quota is based on the relative size of a member state's economy, and it serves various purposes. First, members' quotas make up a pool of funds on which the IMF can draw to lend to a particular member having financial difficulties. Second, quotas determine how much a contributing member can borrow from the IMF and how much it will receive in periodic allocations of SDRs. Third, quotas determine the members' voting power in the IMF. Those who contribute the most to the IMF are given the greatest say in setting its policies.
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Distinguish between a work center and a manufacturing cell.
What will be an ideal response?
Which theory emphasizes the role of technology in determining the trade patterns of manufactured products?
a. factor-endowment theory b. theory of comparative advantage c. product life cycle theory d. theory of overlapping demands
Which of the following brands is most likely to carry a retailer's chain name?
A) generics B) value brands C) private labels D) national brands
Both U.S. GAAP and IFRS require firms to write down inventories when their replacement cost, or market value, declines below acquisition cost
Indicate whether the statement is true or false