When marginal product is decreasing, marginal cost is
a. less than zero
b. equal to zero
c. constant
d. decreasing
e. increasing
E
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Why is it impossible that all industries in a developing country qualify as infant industries?
(a) You cannot have a comparative advantage in everything. (b) You cannot have an absolute advantage in everything. (c) This would violate international law. (d) This would reduce the terms of trade.
Which of the following transactions is a debit in the US current account?
A) Export of merchandise B) Export of services C) Gifts to foreigners D) Foreign bond purchases
From the standpoint of economic efficiency, which of the following is a major advantage of medical savings accounts?
a. They encourage healthcare consumers to purchase low-deductible, low co-payment medical insurance plans. b. They guarantee that no American will ever have to pay another medical bill. c. They encourage healthcare consumers to economize. d. They will force employers to pay a larger share of the medical expenses of their employees.
The yield curve is the relationship between the:
a. Domestic yield and foreign yield. b. Real yield (i.e., interest rate) and actual inflation. c. Nominal yield and time to maturity of a security. d. Nominal yield on corporate securities and the yield of government securities. e. Nominal yield and real yield of a security.