Which of the Following Are International Economic Problems Facing the World

question 46

Multiple Choice

Which of the following are international economic problems facing the world today?

• A)Trade protectionism in industrial countries
• B)High structural unemployment and slow growth in Europe and stagnation in Japan
• C)Job insecurity from restructuring and downsizing in the U.S.
• D)All of the above

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Definitions:

Economic Profit

Economic profit is the surplus that remains when total revenue exceeds the total costs, including both explicit and implicit costs.

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Total Revenues

The overall amount of money generated by a business from its sales or services before any costs or expenses are deducted.

Normal Rate

The standard or average rate at which something occurs, such as interest rates, inflation, or unemployment rates.