Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Moral hazard arises when people behave recklessly because they know they will be
saved if things go wrong.
the social democrats believed that socialism could be achieved only through violent
revolution and totalitarian dictatorship.
milton friedmans basic position is that the only social responsibility of business is to
increase profits, so long as the company stays within the rules of law.
an organizations norms and value systems are known as its corporate culture.
carry trade is non-speculative in nature.
metropolitan symphony sells 200 season tickets for $40,000 that includes a five-concert
season. the amount of unearned ticket revenue after the third concert is $24,000.
mcdonalds is an example of a firm that uses a franchising strategy.
The gold standard called for fixed exchange rates against the U.S. dollar.
Using the ending rate to translate the budget is a valid practice according to the
Lessard-Lorange Model.
the parties to an agreement normally resort to contract law when one party feels the
other has violated either the letter or the spirit of an agreement.
linking neighboring countries economically and making them interdependent creates
incentives to increase political cooperation as well.
