If the economy is characterized by increasing returns to scale, then a
A) doubling of inputs will lead to a more than two-fold increase in output.
B) doubling of inputs will lead to a constant output.
C) doubling of inputs will lead to a two-fold increase in output.
D) doubling of inputs will lead to a less than two-fold increase in output.
A
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Exhibit 36-2 Stock High Low Close Net chg. Dasher 17.25 16.75 17.00 (A) Dancer 34.85 34.25 (B) +0.25 Prancer 56.50 55.90 56.00 (C) Vixen 65.90 (D) 64.75 -0.75 Refer to Exhibit 36-2. If the closing price of Dancer's stock on the previous day was $34.25, what value goes in blank (B)?
A. 34.85 B. 34.00 C. 34.75 D. 34.50 E. There is not enough information given to answer this question.
If you expect a general price increase of 5% this year and the price of the hamburgers you sell increases by 10%, you would conclude that the relative price of your good has
A) declined, and you would increase your output. B) declined, and you would decrease your output. C) increased, and you would increase your output. D) increased, and you would decrease your output.
A realistic production possibilities curve:
A. is concave while a simple PPF has constant opportunity costs. B. is straight lined while a simple PPFhas constant opportunity costs. C. is straight lined while a simple PPF is bowed outward. D. is concave while a simple PPFhas increasing opportunity costs.
What fraction of the world's population lives on no more than $2 a day?
A. 1/10 B. 1/4 C. 1/2 D. 3/4