Constant returns to scale (CRS) implies that when the firm ________
A) doubles all inputs, output more than doubles
B) doubles all inputs, output doubles
C) doubles all inputs, output increases by less than 100 percent
D) doubles all inputs, output remains constant
E) none of the above
B
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Foreign purchases of stocks and bonds issued by U.S. corporations ________ between 1995 and 2007 and ________ in 2014
A) decreased slightly; increased slightly B) increased at a slow but steady pace; increased dramatically C) remained stagnant; declined sharply D) increased dramatically; declined
Food stamps are ______
a. financed by the federal government but administered by the states b. financed by the federal government and the states and administered by the states c. financed by the federal government and the states and administered by localities d. financed by the states but administered by the counties
Most transactions in the foreign exchange market are for ______________.
a. portfolio investments b. tourists c. businesses d. foreign direct investments
The gap between the higher equilibrium tuition and lower student tuition is $4,000 at university A and $10,000 at university B. It follows that
A) if the supply of openings at each university is the same, then the demand to attend university B must be higher than the demand to attend university A. B) the supply of openings is necessarily larger at university A than B. C) instructors at university B are likely to be more punctual for their office hours than instructors at university A. D) instructors at university A are more likely to be punctual for their office hours than instructors at university B. E) none of the above