Liasner, a heavy machine manufacturer, recently introduced a new lathe machine that consumes lesser electricity than conventional lathe machines. Since baseball bats are produced using lathe machines, which of the following will be an impact of Liasner's machine on the supply of baseball bats?
a. The quantity supplied of baseball bats will increase.
b. The quantity supplied of baseball bats
will decrease.
c. The supply of baseball bats will increase.
d. The supply of baseball bats will decrease.
c
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Return to deficit after 2001 was due to
A) a drop in the revenue share. B) an increase in the expenditure share. C) both a drop in the revenue share and an increase in the expenditure share. D) recession.
If a good is an inferior good, then its
A) demand curve will be upward sloping. B) income effect reinforces the substitution effect. C) income elasticity is negative. D) Engel curve cannot be drawn.
According to The International Country Risk Guide, financial assets in:
A. low-income economies tend to be less risky than in high-income economies. B. low-income economies tend to be riskier than in high-income economies. C. low-income economies tend to be about the same level of risk as in high-income economies. D. all countries carry about the same level of risk.
What is measured by the ratio of export prices to import prices?
a. The terms of trade b. The productivity ratio c. The trade standards d. The gains from trade e. The balance of trade