In the short run, a firm cannot change its level of output
Indicate whether the statement is true or false
F
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The average fixed cost curve
A) is always positively sloped. B) is U-shaped. C) has an upside-down U shape. D) is always negatively sloped. E) is horizontal.
Over the past several decades there has been rapid growth in international trade. This growth has been due to all but one of the following factors. Which factor has not contributed to the growth of international trade?
A) a change in the tariffs charged on many goods B) favorable changes in government policies C) a reduction in shipping costs D) the spread of reliable communications
Imagine an economy that does not have international trade and is initially in equilibrium. Later the government increases the level of spending by $350 million because it received a gift from abroad. In this economy, only 65 cents of every dollar is spent, and the rest is saved. What is the marginal propensity to save for this economy?
a. 0.5 b. 0.25 c. 0.65 d. 0.35 e. Cannot be determined
Protectionism is used for all of the following reasons except _____.
(A) Keeping out immigrants. (B) Keeping jobs. (C) Taking care of an infant industry. (D) Safeguarding national security.