Which of the Following Statements Is True of the International

question 20

Multiple Choice

Which of the following statements is true of the international business scenario?

• A)After the dot-com bust, optical fiber was extremely scarce and expensive.
• B)After the fall of the Soviet Union, the economies of Russia and Western Europe closed their markets to the world.
• C)With the popularity of the Internet, the economies of North America and Europe became less integrated.
• D)With the popularity of the Internet, the Chinese economy became more open to the world.

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Definitions:

Marginal Product Capital

This refers to the additional output produced as a result of using one more unit of capital, holding other inputs constant.

Maximum Profit Equilibrium

The point at which a firm achieves its highest level of profit given its production and cost constraints.

Price Labor

The cost associated with hiring workers or the wage that employers pay to their employees for their labor.

ATMs

Automated Teller Machines, devices that allow bank customers to perform financial transactions without the need for a branch representative.