The development of additive manufacturing technology (3-D printers) is expected to lower prices by doing which of the following?
A. Reducing the cost of producing blueprints for manufactured goods.
B. Promoting greater economies of scale in manufacturing.
C. Reducing the demand for manufactured goods.
D. Reducing both large fixed set-up costs and transportation costs.
Answer: D
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Between 1850 and 1860 the prices of slaves ____ than the price of cotton
a. increased more b. decreased more c. increased less d. decreased less
An auto-insurance company introduces an anti-theft device that records how well the customer has secured his car. If the driver locks his car with the monitored lock every day, the rates go down. The company is trying to solve a __________problem
a. Adverse selection b. Moral hazard c. Forced bankruptcy d. None of the above
When the value of U.S. merchandise exports is less than the value of U.S. merchandise imports,
a. the exchange rate, other currencies per dollar, appreciates b. the value of the dollar must fall c. there will be an increase in the demand for dollars d. an unfavorable balance of trade results e. foreign currency reserves must fall
For saving to increase, consumption must decrease, ceteris paribus
Indicate whether the statement is true or false