Technical change that results in a change in the production process is known as disembodied technical change.
Answer the following statement true (T) or false (F)
True
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When the nominal exchange changes from 120 yen per dollar to 110 yen per dollar, the dollar has:
A. become undervalued. B. become overvalued. C. depreciated. D. appreciated.
Trade agreements help to lower barriers to trade
a. True b. False
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the wage required to hire the profit maximizing number of workers?
A. $25,000 B. $50,000 C. $20,000 D. $15,000
Common property resources ____ rival ____ excludable
a. are, and are b. Are, but are not c. Are not, but are d. Are not, and are not