An example of splitting up the value chain would be the shipment of
a. refrigerators.
b. cellular Phones.
c. automotive dashboards.
d. automobiles.
c. automotive dashboards.
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How does a decrease in government budget deficits affect the equilibrium interest rate in the loanable funds model?
A) Interest rate increases. B) Interest rate decreases. C) Interest rate stays the same. D) Interest rate first increases and then decreases back to the original level.
McKeown's (1976) research attributed the majority of the secular decline in mortality rates in Europe and North America to
a. better nutrition and housing. b. improved sanitary conditions. c. clean water and waste disposal. d. reduced exposure to diseases. e. better medical care.
Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. Suppose Country A specializes in bananas, and Country B specializes in tomatoes. The limits to the terms of trade that Country B would find acceptable are Country B will accept no:
A. more than 3 bananas for each tomato. B. less than 3 bananas for each tomato. C. more than 1 tomato for every 3 bananas. D. less than 1 tomato for every 3 bananas.
If average total cost is decreasing as more and more units are produced, then marginal cost must be
A) rising. B) constant. C) below average total cost. D) negative.