The price elasticity of demand for labor will be greater, the
A) smaller is the price elasticity of demand for the final product.
B) easier it is to employ substitute inputs in production.
C) smaller is the proportion of wage costs in the total cost of production.
D) shorter is the time period under examination.
Answer: B
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Why are the losers from free international trade not fully compensated for their losses?
A) The amount of compensation needed would bankrupt the government. B) The losers are foreigners. C) The people who claim to lose are also the same ones who benefit. D) No one actually loses from international trade. E) Identifying all losers and the size of their losses is extremely difficult.
Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) a silent partner B) an outside director C) a managing director D) an inside director