Globalization has made economies of scope:
A. less important to firms because global corporations can segment the production process.
B. less important to firms because global corporations do not have to segment the production process.
C. more important to firms because global corporations can segment the production process.
D. more important to firms because global corporations do not have to segment the production process.
Answer: C
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Suppose output is $440 billion, government purchases are $40 billion, desired consumption is $320 billion, and net exports are $35 billion. Absorption is equal to
A) $405 billion. B) $420 billion. C) $435 billion. D) $440 billion.
If a firm shuts down in the short run, its losses are equal to
A. TC ? TR. B. TFC. C. TVC. D. MC.
One way to ensure productivity growth would be to
A. restrict immigration. B. raise the savings rate. C. increase military spending. D. slow the introduction of new technology.
Suppose that an anti-smoking campaign in Moscow, Russia, is successful so that Muscovites smoke less and chew gum more. Tobacco companies lay off workers, while chewing gum manufacturers employ more workers. This is an example of
a. structural unemployment created by efficiency wages.
b. structural unemployment created by sectoral shifts.
c. frictional unemployment created by efficiency wages.
d. frictional unemployment created by sectoral shifts.