Refer to Table 7-6. Prior to trade, what was the opportunity cost to produce 1 belt in Morocco?

Managers should concentrate on maximizing shareholder value alone if which of the following conditions are met?

a. complete markets b. no significant asymmetric information c. known recontracting costs d. all of the above e. none of the above

Which of the following is an example of a normative statement? a. The GDP growth rate has been unstable over five years

b. The tax rate should be reduced to improve the quality of life in an economy. c. The unemployment rate has been below the natural rate of unemployment in the U.S for the last 2 years. d. The inflation rate of 2015 exceeds the inflation rate of 2014.