Use the information provided in Table 7.2 below to answer the question(s) that follow.
Table 7.2Inputs Required to Produce a Product Using Alternative Technologies
Refer to Table 7.2. Which technology is the most capital intensive?
A. A
B. B
C. C
D. D
Answer: A
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If the Brazilian demand for American exports rises at the same time that U.S. productivity rises relative to Brazilian productivity, then, in the long run, ________, everything else held constant
A) the Brazilian real will appreciate relative to the U.S. dollar B) the Brazilian real will depreciate relative to the U.S. dollar C) the Brazilian real will either appreciate, depreciate, or remain constant relative to the U.S. dollar D) there is no effect on the Brazilian real relative to the U.S. dollar
Regarding open economies, economists tend to find evidence that
A) the more closed an economy is, the higher the rate of growth the economy will experience. B) trade tariffs tend to improve economic growth. C) free trade encourages a more rapid spread of technology, and hence increases economic growth. D) open economies tend to have access to smaller markets than do closed economies.
The wages for Nike workers increases. At the same time, we see the price for Adidas shoes increase. How does this affect the market for Nike shoes?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
Households interact with business firms by:
a. buying resource services from business firms. b. paying wages for the use of labor. c. selling goods and services to firms. d. receiving payments from firms for use of resource services. e. paying rent to firms for the use of land.