With the Exception of the Upper Class, the Remaining Four

question 56

True/False

With the exception of the upper class, the remaining four social classes are relatively equal in size, although there is a considerable difference in their incomes and lifestyles.

Understand the mechanisms through which trade affects national economies and global competitiveness.

Understand the basic principles of international trade and its economic effects on nations.

Identify the roles and criticisms of international trade organizations such as the World Trade Organization.

Differentiate between comparative advantage and absolute advantage in trade.

---

Definitions:

Dividends Declared

The amount of earnings a company has decided to pay out to its shareholders as dividends.

Diluted Earnings

A company's earnings calculated with the assumption that all convertible securities have been converted into common stock.

Preferred Stock

A class of ownership in a corporation that has a higher claim on assets and earnings than common stock, usually with predetermined dividend payments.

Common Stock

A type of equity security that represents ownership in a corporation, with voting rights and potential dividends.