Which of the following is NOT an effect of intra-industry trade if the concerned industry is monopolistically competitive?
A. Total output of the domestic industry increases as a result of such trade.
B. There are few shifts in production among industries that put pressures on factor prices.
C. There are considerable national gains that arise from trade because there is an increase in the number of varieties of products available in the country.
D. Domestic consumers gain because such trade results in lower prices of domestic varieties of the good.
Answer: A
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Indicate whether the statement is true or false
Marshall owns and operates a construction firm. He uses inexpensive and low-grade building products and accepts inferior carpentry work from his subcontractors. Nevertheless, Marshall complies with all the city building codes as well as all state and federal laws. Has he fulfilled all of his ethical obligations
a. Yes, because legal standards are stricter than ethical standards. b. Yes, because ethical obligations require only legal behavior. c. No, because ethics is too hard to define. d. No, because legal compliance is regarded as the moral minimum.