Bill, a U.S. citizen, pays a Spanish architect to design a metal casting factory. Which country's exports increase?
a. Spain's
b. the U.S.'s
c. Spain's and the U.S.'s
d. neither Spain's nor the U.S.'s
a
You might also like to view...
A price ceiling imposed by the government:
A) can create situations of excess demand. B) is a tax that increases the market price of a good. C) involves pricing a commodity above the market price. D) helps in establishing equilibrium in case of shortage or surplus.
What is the relationship between marginal cost and marginal product?
a. The two are not related. b. When marginal product increases, marginal cost increases. c. When marginal product increases, marginal cost falls. d. When marginal product is negative, marginal costs are negative. e. When diminishing marginal returns set in, marginal costs fall.
Refer to the following graph. The price of capital (r) is $20.
What is the lowest possible cost of producing 5,000 units of output?
A. $3,000 B. $2,400 C. $1,800 D. $2,600 E. $1,400
What is one reason suppliers might offer a discount for quantity purchases?
A) reduced storage costs B) lower marginal cost C) lower marginal benefit D) price gouging