A citizen of the U.S. buys a factory in London. This is an example of a(n) ________
A) foreign portfolio investment B) export by the U.S.
C) foreign direct investment D) import by the U.S.
C
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The greatest advantage of the railroad over earlier forms of transportation was its speed and its ability to stay open throughout most of the winter. Robert Fogel attempted to measure the advantage of faster all-weather transport by examining:
a. profits in transportation industries as a group. b. profits in railroads compared with canals. c. employment of labor and capital in the transportation sector before and after the railroad. d. inventories of agricultural products held in eastern markets.
If prices in the economy rise, then
A) the purchasing power of a dollar rises. B) the purchasing power of a dollar stays constant. C) the purchasing power of a dollar declines. D) the purchasing power of a dollar cannot be determined.