Technological improvements shift the average total cost curve and the marginal cost curve downward.
Answer the following statement true (T) or false (F)
True
Technological improvements lower the costs of production and will cause the MC and ATC to decrease.
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In what way does nationalism tend to be a hindering force in attaining modern economic growth and development, and in what way a facilitating force?
What will be an ideal response?
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Assuming both countries have the same amount of resources available to them, which of the following statements is true? Country A has:
A. an absolute advantage in the production of cars, and Country B has the absolute advantage in the production of trucks.
B. an absolute advantage in the production of trucks, and Country B has the absolute advantage in the production of cars.
C. the absolute advantage in the production of both cars and trucks.
D. the absolute advantage in neither the production of cars nor trucks.
Productivity growth tends to affect all industries to the same degree
a. True b. False Indicate whether the statement is true or false
If for some reason Americans desired to decrease their purchases of foreign assets, then other things the same
a. both the real exchange rate and the quantity of dollars exchanged in the market for foreign-currency exchange would fall. b. both the real exchange rate and the quantity of dollars exchanged in the market for foreign-currency would rise. c. the real exchange rate would rise and the quantity of dollars exchanged in the market for foreign-currency would fall. d. the real exchange rate would fall and the quantity of dollars exchanged in the market for foreign-currency would rise.