According to the table above, which of the following exhibit decreasing returns to scale?
A) tobacco products and clothing, but not furniture
B) transportation equipment and food, but not paper products
C) transportation equipment, food, and paper products
D) furniture and electronic equipment, but not tobacco products
B
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According to human capital theory, all of the following help make workers more productive EXCEPT
A) health and fitness. B) increased unemployment benefits. C) skills. D) education.
Why is opportunity cost a ratio?
What will be an ideal response?
If the dollar depreciates against the Indian rupee
A) The value of Indian imports to the United States does not change. B) Indian imports to the U.S. become less expensive. C) U.S. exports to India become more expensive. D) U.S. exports to India become less expensive.
A situation in which a benefit or a cost associated with an economic activity spills over to third parties is called
A) a public good. B) a merit good. C) an externality. D) the free-rider problem.