Consider a world of two countries producing only wheat and cloth. In one hour, residents of Country A can produce 1 unit of wheat and 0.5 unit of cloth, whereas residents of Country B can produce 0.3 unit of wheat and 0.4 unit of cloth
Country A should export A) wheat and cloth; country B should not export anything.
B) wheat and country B should export cloth.
C) nothing and country B should export both wheat and cloth.
D) cloth and country B should export wheat.
B
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For a given production possibilities frontier, which points are attainable?
A. Points inside the frontier B. Points outside the frontier C. Points on or outside the frontier D. Points on the frontier only E. Points on or inside the frontier
Sugarcane can be used to produce both granulated sugar and ethanol. Recent regulations in certain countries now permit a higher amount of ethanol to be added to gasoline. As a result of these changes, an economist would expect granulated sugar prices to ____, and quantity sold to ____.
A. rise; rise. B. fall; fall. C. rise; fall. D. fall; remain the same.
Assume that the quantity consumed of pizza is dependent on three factors: the price of a pizza, the income of pizza purchasers, and consumers' taste for pizza
When graphing the relationship between the price of a pizza and the quantity of pizza consumed A) the price of a pizza and the income of pizza consumers are the only variables that are allowed to change. B) the price of pizza and quantity consumed of pizza are the only variables that are allowed to change. C) consumers' taste for pizza and the income of pizza purchasers are the only variables that are allowed to change. D) None of the above answers are correct.
In case of a disagreement between a regional manager and a business area manager of a matrix organization who have equal decision making authority, the decision should be made at higher levels of the organization
Indicate whether the statement is true or false