Competition for votes between two political parties will cause those parties to
A) produce quite different policy proposals.
B) have very similar policy proposals.
C) find ways to clearly distinguish themselves in order to give voters a clear choice.
D) a and c
E) none of the above
B
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The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. If it were unable to export, and was constrained by its domestic market, what quantity would it sell at what price?
What will be an ideal response?
Which of the following statements is TRUE?
A) A Cobb-Douglas production function can have different returns to scale at different output levels. B) It is impossible to have increasing returns to scale for one output level, and decreasing returns to scale for a different output level. C) It is possible to have increasing returns to scale for one output level, and decreasing returns to scale for a different output level. D) None of the above.
When the nominal exchange rate in terms of dollars per yen rises,
A. the dollar buys fewer yen and the dollar has depreciated. B. the dollar buys more yen and the dollar has appreciated. C. the dollar buys more yen and the dollar has depreciated. D. the dollar buys fewer yen and the dollar has appreciated.
Moving from one point to another on a production possibilities frontier implies
A) increasing the production of both goods. B) changing the amount of factors of production that are employed. C) decreasing the production of both goods. D) increasing the production of one good and decreasing the production of another. E) holding the production levels of both goods constant.