Refer to Figure 2-4. Consider the following movements:
a. from point V to point W
b. from point W to point Y
c. from point Y to point Z
Which of the movements listed above represents advancements in technology with respect to only plastic production?
A) a, b, and c B) b and c only C) b only D) c only
D
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Globalization is defined as the process of countries becoming ________ open to foreign trade and ________ open to foreign investment
A) more; more B) more; less C) less; less D) less; more
The following table depicts the production relationship between units of labor and output of pepper on Pietrov’s Pepper Farm. Labor Peppers Labor Peppers 1 10 6 75 2 25 7 77 3 45 8 78 4 60 9 77 5 70 10 75 Graphically show the three zones of production corresponding to increasing, decreasing, and negative marginal product, noting the point of diminishing returns.
What will be an ideal response?
On average each year, about 7 percent of all firms in the United States are new, and 1 percent go out of business. According to the text, which of the following is not true?
A) Luck may play a role in a firm's performance. B) A focus on quality may have a role in a firm's performance. C) Being a first mover is never a reason for failure. D) Size may be an important factor of success. E) A firm that globalizes may find that it fails.
If the Fed were to enter the foreign exchange market and purchase euros, the impact on domestic banking reserves would be:
A. domestic banking reserves would decrease. B. the same as it would be with an open market purchase. C. the opposite of what it would be with an open market purchase. D. uncertain.