Explain the obstacles to more widespread adoption of labeling as a method of reducing environmental and child labor problems
What will be an ideal response?
First, countries resist what they consider an infringement of their sovereignty when foreign inspectors are allowed to probe into the details of labor and environmental conditions. Secondly, consumers have to be convinced that the label provides reliable information.
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Before an uneven rise in prices Allan consumed 5 bread and 6 juice. After the price increase and with an increased welfare payment from the government Allan consumes 4 bread and 7 juice
Does the government payment represent a true cost-of-living adjustment (COLA)? A) Yes, if the two consumption bundles lie on the same indifference curve. B) Yes, if the second bundle yields more utility than the first. C) No, the first bundle is clearly preferred. D) Not enough information.
In a publicly traded corporation, which of the following is responsible for business debts and activities?
A. The corporation itself. B. The individual stockholders. C. The board members. D. The owners.