If the MPC is 4/5, the multiplier is 5/4
a. true
b. false
Answer: b. false
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Cost-effectiveness considerations are more formally integrated into health policy making in
a. the UK b. Australia c. Europe d. Canada e. b, c, and d are correct
Specialization and trade can take place only if a country is endowed with more of something compared to other countries
a. True b. False Indicate whether the statement is true or false
Suppose that in 2012 ABC Corp. produced 500 million units of a good at an average cost of $2, and in 2013 ABC Corp. expanded its plant capacity and produced 600 million units at an average cost of $1.80. In this range, one can conclude that ABC Corp. is experiencing:
A. economies of scale. B. diseconomies of scale. C. neither economies of scale or diseconomies of scale. D. diminishing marginal product.
As an economy moves from point to point along its production possibilities curve, which one of the following variables changes?
A. the level of technology B. the amount of each good or service produced C. the level of efficiency of some factors of production D. the total amount of resources employed