Name: _ Date: _
1. _ foreign direct investment occurs when a firm from an industrial country
owns a plant in a developing country.
D) Reverse vertical
2. In 1956 an invention increased the volume of world trade by l
Econ 334 100
New and Old Operations
Since the establishment of the United States of America, the ways of operations of
production and business have always been changing. In the beginning, mercantilism dominated
Chapter 9 Notes - Econ 359
The Fat lamp was about twenty-two times more energy efficient as a source of
light than campfires.
The Babylonians of about 1750 B.C. used sesame oil to light up their temples.
This was double the energy effici
National income and Product Accounts
NIPA: national income and product accounts
Nation: imaginative comm.
National income: measures of national income earned, value of
production & expenditure
o Transactions that are marketed money exchange o
1. Consider the following table of labor coefficients:
Hours of Labor to Make One Unit of:
Each cell tells now many hours of labor it takes to make one unit of the good in
questions. England had