Let the production function be q = ALaKb. Returns to scale are equal to
A) a ? b.
B) a + b.
C) La + Kb.
D) A ? L.
B
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What has happened to the free trade agenda in the last few years, and in particular to the fate of the Doha Round of trade negotiations?
What will be an ideal response?
One area of labor issues that the labor side agreement to NAFTA does not open to foreign consultation or investigation is
A) the use of child labor. B) worker exposure to unsafe conditions. C) minimum wages. D) worker's rights to organize. E) worker exposure to toxic hazards.
In Figure 4-10 above, preferring the "easy money, tight fiscal" policy mix at a certain income is why we are at
A) point A rather than point C. B) point C rather than point A. C) point D rather than point B. D) point B rather than point D.
If a firm produces 8 units of output with average fixed cost=$40 and average variable cost=$25, what is its total variable cost?
a. $200 b. $320 c. $1,000 d. $650