Suppose Robinson and Crusoe are stranded on a desert island in the Pacific Ocean and discover a large amount of currency from a previous shipwreck. Friday catches 20 fish and sells them to Robinson Crusoe for  $40 apiece. Robinson Crusoe uses the fish he purchased from Friday to make 40 gallons of fish oil, which he sells to Friday for $20 per gallon. If the transactions above are the only ones that take place in 2002, what is the GDP of the island in 2002?       $0       $800       $1600       $2400

From the following, please identify the 2 statements that are true as well as the 2 statements that are false regarding the idea of Globalization (as opposed to the idea of International Business) A) Means to the end of performing activities in whatever nation in the world that supports increasing firm efficiency and improving industry competitiveness via sales expansion, resource acquisition, and risk reduction.   B) Studies the practices and processes of business: a sovereign nation is the unit of analysis.   C) Marked by processes of “denationalization,” whereby national sovereignty surrenders to global identity   D) Trend toward greater economic,  cultural,  political,  and technological interdependence among agents and institutions.

Which quotation supports the analysis that money only holds value if a government can insure it with actual goods? "People bartered. Bartering is trading goods or services without the exchange of money. So, a family that had a goat but needed seeds to plant crops might barter with another family that had seeds and wanted goat milk." (paragraph 3) "They used cacao in important rituals and associated it with the gods. But the Aztecs O found it difficult to grow cacao trees. To make sure they always had a supply of cacao, the Aztecs demanded that conquered groups pay tribute in cacao beans." (paragraph 6) "The Congress promised that they could be redeemed at a later date. But the Congress printed too many bills. They were easily counterfeited. And they were not backed by any asset that gave people confidence that they would hold their value. The Continentals soon became worthless." (paragraph 11) "Or, as in the case of the European Union, nations have joined together to develop a O shared…

NEWS WIRE NORTH KOREA'S ROCKETS DEEPEN FOOD CRISIS   North Korea's Rocket Launches Cost $1.3 Billion   North Korea's rocket program is costly. In December 2012 North Korea successfully launched a long-range rocket carrying a satellite into space. That feat cost $300 million. The entire cost of the rocket program last year - including the failed launch in April - totaled about $1.3 billion according to estimates by South Korea experts. With that much money North Korea could have purchased 4.6 million tons of corn - enough to feed its population for 4-5 years. North Korea's ambitious nuclear program costs nearly triple that amount. The burden of North Korea's military program is evident in widespread poverty and periodic starvation.   Source: News accounts of December 2012 - January 2013.     According to the News Wire, what is the opportunity cost of North Korea's rocket program in terms of corn for North Korea's 25 million people?           million tons of corn