The best method to produce something is generally ______.
a. the method using the least labor
b. the method using the least capital
c. the lowest cost method
d. the most expensive method
c. the lowest cost method
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The ________ plots the relationship between prices and the quantity that buyers are willing to purchase
A) supply curve B) isoquant C) indifference curve D) demand curve
An example of a U.S. export is
A) diamonds mined in Africa sold to buyers in South America. B) a TV made in China sold to a buyer in Azerbaijan. C) matchbooks made in Mexico sold to a buyer in New Jersey. D) a washing machine made in Indiana sold to a buyer in France. E) pasta made in Italy sold to buyers in Spain.
Often when consumers enter the used car market to make a purchase,
a. they know little about what they are purchasing. b. the motto "let the buyer beware" applies. c. the information they gain may not be perfect, but may be what economists call "optimally imperfect." d. All of the above are correct.
Which of the following would increase the U.S. demand for foreign currency?
a. an increase in the U.S. demand for foreign goods b. an increase in incomes abroad c. a decrease in U.S. incomes d. a decrease in the U.S. demand for foreign goods e. an increase in U.S. real interest rates