Resource price differentials that trigger the reallocation of resources so as to equalize payments for similar resources are known as
a. permanent differentials
b. trigger price differentials
c. reallocation differentials
d. equal differentials
e. temporary differentials
E
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In the figure above, an increase in the U.S. interest rate relative to that in Canada shifts the demand curve for U.S. dollars ________ and shifts the supply curve of U.S. dollars ________
A) leftward; leftward B) leftward; rightward C) rightward; leftward D) rightward; rightward
In the table above, what do net exports equal?
A) a deficit of $700 billion B) a deficit of $350 billion C) a surplus of $50 billion D) a surplus of $1,750 billion
If an industry is characterized by substantial diseconomies of scale, as a particular firm in the industry expands its production capacity we will observe:
A) a decrease in marginal costs. B) an increase in the marginal product of labor. C) a decrease in the total fixed costs of production. D) an increase in the average total costs of production.
It costs a firm $80 per unit to produce product A and $50 per unit to produce B individually. If the firm can produce both products together at $140 per unit of product A and B, this exhibits signs of
a. Economies of scale b. Economies of Scope c. Diseconomies of Scale d. Diseconomies of Scope