To Speed Up the Opening of a New Factory in a Middle

question 68

Multiple Choice

To speed up the opening of a new factory in a Middle Eastern country, Micah gave the local government official's assistant a pen and pencil set that Micah had purchased for $10. Micah hoped this gift would remove some of the red tape that was slowing down the building process. This type of gift is referred to as:

• A)collusion.
• B)subordination.
• C)capitulation.
• D)indemnification.
• E)lubrication.

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Definitions:

Price System

An economic system wherein the allocation of goods and services, as well as their prices, are primarily determined by supply and demand in a free market.

Market Economy

An economy that allocates resources through the decentralized decisions of many firms and households as they interact in markets for goods and services.

Rate Of Economic Growth

The increase in the market value of the goods and services produced by an economy over time, usually measured as the percentage increase in real gross domestic product (GDP).

Human Capital

The economic value of a worker's experience and skills, including education, training, intelligence, skills, health, and other things employers value in employees.