Where there are internal economies of scale, the scale of production possible in a country is constrained by
A) the size of the domestic plus the foreign market.
B) the size of the country.
C) the size of the trading partner's country.
D) the size of the domestic market.
E) the size of the foreign market.
A
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The figure above shows a nation's production possibilities frontier. In the figure, point A shows
A) the minimum quantity of pizza that the society must produce. B) the maximum quantity of pizza that can be produced. C) an unattainable point. D) an attainable point with unemployed resources. E) More information is needed to determine which of the above answers is correct.
Central banks often intervene in currency markets. This activity is called
A) managed floating. B) fixing exchange rates. C) currency warfare. D) super-pegging. E) flexible floating.
Which of the following statements about Food Service Contractors is correct?
a. Delaware North has the largest market share within its industry.
b. Compass Group, Aramark, Sodexo, and Delaware North are the only firms in the
industry.
c. Sodexo’s sales account for 32.8 percent of the industry’s total sales.
d. Compass Group, Aramark, Sodexo, and Delaware North are the four largest firms in
the industry.
Which of the following goods would be likely to be bought in the same quantity even if it doubled in price?
a) shoes b) telephones c) pencils d) computers