Suppose exports and imports both rise by $1. GDP
A) rises by $2.
B) rises by $1.
C) remains unchanged.
D) falls by $1.
E) falls by $2.
C
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Historically, empirical evidence showed that it was more cost effective to have a single generator of electricity serve a particular region's electricity needs than to have several smaller units compete against each other
More recently, technological advances have occurred in the generation of electricity that allow much smaller generating units to produce electricity for the same average cost as much larger units. Explain how this change would be reflected in the firm's long-run average cost curve and minimum efficient scale.
Which of the following would not appear on a firm's accounting statement?
a. sunk costs b. fixed costs c. explicit costs d. implicit costs e. insurance costs
Assume consumer demand for CD-ROMs increases. The result is a(n):
a. increase in derived demand for workers in the CD-ROM industry. b. increase in the marginal revenue product of firms in the CD-ROM industry. c. rightward shift in the market demand for labor curve in the CD-ROM industry. d. all of these. e. none of these.
Since World War II,
A. air pollution has worsened in most U.S. cities. B. many new pollutants have been introduced or identified. C. the federal government has reduced its reliance on economic incentives as a means of reducing pollution. D. the United States has polluted more per capita than China and India.