Suppose the U

question 24

Multiple Choice

Suppose the U.S. economy is producing at the natural rate of output. A depreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the long run,everything else held constant. (Assume the depreciation causes no effects in the supply side of the economy. )

• A)an increase;an increase
• B)a decrease;a decrease
• C)no change;an increase
• D)no change;a decrease

Identify different views on the role of businesses in society, from classical economic to socioeconomic models.

Comprehend the strategies businesses can adopt toward social responsibility, from reaction to proaction.

Understand the concept of corporate philanthropy and its relation to corporate social responsibility.

Recognize the role of ethical considerations within the realm of business decisions and strategies.

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Definitions:

Comparative Advantage

The skill of a person or group to undertake a particular economic operation more adeptly than another activity.

Answering Phones

Involves handling incoming calls and may include tasks such as providing information, taking messages, or scheduling appointments.

Comparative Advantage

The skill of an individual, enterprise, or nation in producing a commodity or performing a service with a lower sacrifice of alternative opportunities than competing entities.

Oranges

A citrus fruit that is often considered in economic examples related to trade, comparative advantage, and consumer choice.