Intraindustry trade is characterized by what two features of the industry and market?
A) Diseconomies of scale and homogeneous products
B) Non-tariff barriers and large-scale foreign investment
C) Quota auctions and low effective rates of protection
D) Economies of scale and differentiated products
D
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Which of the following business combinations likely exhibit economies of scope?
A) Banking services for individuals and banking services for other business B) Retail clothing stores and electronic (internet) clothing sales C) Hospitals that perform heart surgery and hospitals that perform cosmetic surgery D) all of the above
The economic way of thinking will help you
A) make decisions in financing your home. B) decide whether the U.S. government should encourage or discourage immigration. C) make better decisions concerning your education. D) all of the above
If the production possibilities curve is a downward sloping straight line, then
A) resources are highly specialized, making it difficult to use them for alternative uses. B) technological change has increased. C) production is efficient only when producing at the mid-point. D) all resources must be perfectly adaptable for alternative uses.
The Federal Reserve is anticipating a contractionary period in the economy. The Fed decides to engage in open market operations to stimulate the economy. This action is
A) active policy making. B) passive policy making. C) the monetary rule. D) Phillips policy making.