If a U.S. company operates within a competitive environment and chooses to offshore part of its production process, the resulting change in the firm's costs should shift the ______________ curve for its product ___________________, thus _____________ the price of the product being produced
A) supply; leftward; lowering
B) supply; rightward; raising
C) demand rightward; raising
D) supply; rightward; lowering
D
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Which of the following lowers the current price of an nonrenewable natural resource?
A) an increase in the interest rate B) a decrease in the stock of the resource C) an increase in the marginal revenue product of the resource D) an increase in the price of a substitute resource
At any given moment, there is one exchange rate
A. for currencies in the free world. B. between every pair of currencies. C. for all the world’s currencies. D. established by the Federal Reserve Board.
The last time a recession hit the country of Valtonia, the price of real estate fell significantly. When Craig learns that this country's stock market has crashed, he immediately decides to sell his houses. This is an example of the theory of _____
a. absolute advantage b. rational expectations c. adaptive expectations d. sticky wages
In the prisoner's dilemma game:
A. a stable outcome is possible. B. only one player has a dominant strategy. C. a stable outcome is impossible. D. a commitment strategy is needed to reach a stable outcome.