When economic structuralists witness powerful countries attempting to take control of natural resources in weaker countries, they see this as a
a. normative collaboration.
b. triumph of hegemony.
c. tragedy of the commons.
d. new colonialism
d. new colonialism
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If the marginal cost of producing hair styling decreases, then the efficient quantity of hair stylings to produce ________
A) depends on the marginal benefit B) remains the same C) decreases D) increases
The demand for factor is driven by the demand for goods and services produced by that factor of production. This phenomenon is referred to as
A) elastic demand. B) joint demand. C) inverse demand. D) derived demand.
Economies of scope is the term used to describe an industry that is composed of firms having substantial economies of scale
a. True b. False
Why is it important to use real GDP rather than nominal GDP figures when making comparisons of output across time periods?
a. The real GDP figures are a better measure of changes in the general level of prices. b. The real figures will reflect changes in the quantity of output and not changes in the general level of prices. c. The real figures will reflect changes in the general level of prices as well as changes in the quantity of output. d. The real GDP figures adjust for changes in the level of employment.