A positive technological change will cause the supply of a good to increase
Indicate whether the statement is true or false
TRUE
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Which of the following generates demand for foreign currencies?
A. Imports of foreign goods by firms located in the United States. B. The building of plants by foreign corporations in the United States. C. Exports from the United States to foreign countries. D. Foreign tourists traveling to the United States.
Suppose that Brazil has a comparative advantage in coffee and Mexico has a comparative advantage in tomatoes. Which of the following groups would be worse off if these countries specialize and trade?
A. All groups are better off when specialization and trade take place. B. Brazilian coffee producers. C. Mexican tomato producers. D. Mexican coffee producers.
In the table above, diminishing returns
A. begin with the fourth unit of labor. B. begin with the fifth unit of labor. C. begin with the third unit of labor. D. begin with the first unit of labor. E. do not occur because output is positive for all levels of labor usage.
A car leasing company that expands its size by buying its competitors may run the risk of increasing production cost per unit due to:
A. diseconomies of scale. B. economies of scale. C. diminishing returns. D. greater use of large-volume purchases.