If a nation has a higher level of technology than another nation it can produce:
A. more outputs with the same level of physical capital.
B. less with the same amount of physical capital.
C. more with no use of human capital.
D. the same output with the same level of inputs.
A. more outputs with the same level of physical capital.
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On the graph above, suppose the economy is at point F when there is a temporary negative supply shock. The new long-run equilibrium is at point ________
A) H B) I C) F D) G E) none of the above
Brazilian subsidies on its exports of furniture to the United States. Which type of tariff will be applied on U.S. imports of Brazilian furniture?
a. antidumping duties b. countervailing duties c. export duties d. safeguard duties levied under Section 421 of the amended U.S. Trade Act of 1974
If choosing a larger plant will reduce minimum average costs, there are economies of scale.
Answer the following statement true (T) or false (F)
When an individual quits his job and decides to look for a new job immediately, the labor-force participation rate
A. stays the same. B. increases. C. decreases. D. may increase or decrease, depending on the length of time he/she stays at home.