The primary interest of firms engaging in offshoring is to find lower wages and to decrease production costs
Indicate whether the statement is true or false
FALSE
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The difference between nominal and real exchange rates is:
A) absolute prices. B) foreign prices. C) domestic prices. D) ratio of domestic prices to foreign prices.
Refer to the above figure. The long-run average cost curve and the long-run marginal cost curves represent
A) the cost curves for a competitive firm. B) the cost curves for a natural monopoly. C) a situation where a firm has control over the raw materials. D) a situation where a firm has a patent.
If an unregulated monopolist operates in a market, then: a. customers will pay higher prices than if the market were competitive
b. customers will purchase fewer units of output than if the market were competitive. c. society will not be allocating its resources efficiently. d. all of the above will occur.
Two studies published in the New England Journal of Medicine link the risk of breast cancer to alcohol consumption. Young women who have nine drinks per week were reportedly 150 percent more likely to develop breast cancer. Considering the market for alcohol, an economist would predict a movement
a. up the demand curve as quantity demanded falls. b. up the supply curve as the demand curve shifts. c. down the supply curve as the demand curve shifts. d. down the demand curve as quantity falls.