In recent years, the United States has had large

A) current account surpluses.
B) current account deficits.
C) balance of trade surpluses.
D) balance of payments surpluses.

In the WTO,the most-favored nation principle allows:

A) economically developing nations to receive special treatment.
B) the developed nations to obtain economic advantages.
C) all member nations to have similar treatment regarding similar imports.
D) poor nations to receive financial payments from wealthy nations.

Film distributors sometimes change movie titles when marketing overseas due to language or slang barriers.Studios usually allow modification of its product as part of a _____ strategy.

A) Multinational
B) global business
C) multidomestic business
D) Uniform

Ellie and Brendan both produce apple pies and vanilla ice cream. If Ellie's opportunity cost of one apple pie is 1/2 gallon of ice cream and Brendan's opportunity cost of one apple pie is 1/4 gallon of ice cream, Ellie has a comparative advantage in the production of ice cream.

All but which of the following hold an insurable interest?

A) Shareholders in a closely held corporation to the extent of their interest in the corporation's property.
B) A lessee of property.
C) A seller with a purchase money security interest.
D) A buyer of a truck, whether or not the buyer had knowledge of the fact that the truck was stolen by the seller.

The rate at which one input can be reduced per additional unit of the other input, while holding output constant, is measured by the:

A) marginal rate of substitution.
B) marginal rate of technical substitution.
C) slope of the isocost curve.
D) average product of the input.