In the foreign exchange market, the higher the dollar's exchange rate, the
A) larger the supply of dollars.
B) smaller the quantity supplied of dollars.
C) smaller the supply of dollars.
D) larger the quantity supplied of dollars.
D
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Which of the following is true regarding the relationship between returns to scale and economies of scope?
A) A firm experiencing economies of scope must also experience increasing returns to scale. B) Economies of scale and economies of scope must occur together. C) A firm experiencing increasing returns to scale must also experience economies of scope. D) There is no definite relationship between returns to scale and economies of scope.
If a firm is an oligopolist, which is NOT true?
A) It must pay attention to other firms' prices. B) It is one of a relatively small number of firms dominating its industry. C) It can sell all the units it wants at the going market price. D) It is engaged in a strategic game.
Country A's cost of widgets is $4.00 and cost of wadgets is $8.00. Country B's cost of widgets is 8 euros and cost of wadgets is 16 euros. Which of the following would you suggest?
A. Trade of widgets for wadgets would not benefit the countries. B. Country A should specialize in wadgets and Country B in widgets. C. Both countries should produce an equal amount of each. D. Country A should specialize in widgets and Country B in wadgets.
Welfare benefits reduce the need to work and result in a shift in the
A. Labor supply curve to the left. B. Labor demand curve to the left. C. Labor supply curve to the right. D. Labor demand curve to the right.