The World Trade Organization, the International Monetary Fund and its sister institution the World Bank, and the United Nations were all created by voluntary agreement between individual nation-states
Indicate whether the statement is true or false.
TRUE
Over the past half century, a number of important global institutions have been created to help manage, regulate, and police the global marketplace and to promote the establishment of multinational treaties to govern the global business system. These include the General Agreement on Tariffs and Trade (GATT) and its successor, the World Trade Organization (WTO); the International Monetary Fund (IMF) and its sister institution, the World Bank; and the United Nations (UN). All these institutions were created by voluntary agreement between individual nation-states, and their functions are enshrined in international treaties
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Value Electronics uses a standard part in the manufacture of different types of radios
The total cost of producing 25,000 parts is $95,000, which includes fixed costs of $40,000 and variable costs of $55,000. The company can buy this part from an external supplier for $3 per unit and avoid 20% of the fixed costs. If Value Electronics decides to outsource the production of the part, how will it impact its operating income? A) Operating income increases by $12,000. B) Operating income decreases by $12,000. C) Operating income increases by $20,000. D) Operating income decreases by $20,000.
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