If the stock of capital of a nation is ________ while the population ________, the nation can produce more output, but output per worker falls.
A. fixed; decreases
B. declining; decreases
C. fixed; increases
D. fixed; remains stable
Answer: C
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The Smoot-Hawley tariff triggered a trade war during the Great Depression of the 1930s
Indicate whether the statement is true or false
Despite the fact that gross savings in the U.S. has been declining, we have been able to invest billions of dollars to purchase additional plant and equipment because
A. the federal government balanced the budget. B. foreign savers made up the difference. C. the government ran a budget surplus. D. personal savings was over 10 percent.
If a firm shuts down in the short run it will
A) break even. B) declare bankruptcy. C) suffer a loss equal to its variable costs. D) suffer a loss equal to its fixed costs.
Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. the theory of comparative advantage suggests that
A. England should export trucks and import cars. B. the United States should import cars and export trucks. C. England should export both trucks and cars. D. the United States should export both trucks and cars.