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Economics

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Tiffany Schmitt

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Cards in this guide (11)
What are Normal Trade Relations

The designation of a country with which beneficial trade status (lower tariffs, limited restrictions) has been declared. The status Permanent Normal Trade Relations (PNTR) was created in 1998 to replace the former title of Most Favored nation (MFN).

What best explains what happens to the exchange rate of a floating currency

The exchange rate for that currency changes depending on the operations of the free market

What is a direct benefit of the use of assembly lines in production

Wasted motion is eliminated

In what would the price of a good be most likely to increase

People would consume less of the good and look for substitutes

What describes the difference between individual and public goods

People cannot be excluded from using goods while they can be excluded from using individual goods.

When the benefit of one particular use of a resource is greater then the opportunity cost than that resource is which of the following

being used efficiently <3

What best explains what a forward contract is

A contract to deliver a particular commodity to a buyer sometime in the future.

What most accurately describes one of the powers of stockholders

Stockholders can sell their shares in the company at any time.

What are the characteristics of a business partnership

If the partnership is a general partnership, all partners assume unlimited liability. However, if the partnership is a limited partnership, one or more of the partners assumes unlimited liability

When people buy less of a certain good as their income increases this good is considered .

inferior

Which of the following Represents The Most Direct Power That Stockholder's Have Over The Operations Of A Company

Stockholders can vote for the members of the board of directors

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