Which of the following is FALSE?
A) Economies of scale may be internal, external, or both.
B) With internal economies of scale, the gains from trade include a wider selection of consumer choices and lower prices.
C) With external economies of scale, the gains from trade are less certain since, in theory, they can lock in production in a less efficient country and prevent the development of production in a more efficient country.
D) Internal economies of scale lead firms to regionally concentrate their industry.
D
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If the price of automobiles were to decrease substantially, the demand curve for public transportation would most likely
A) shift right. B) shift left. C) remain unchanged. D) remain unchanged while quantity demanded would change.
Wine Merger In October, 2014, Vintners Global Resource's (VGR) agreed to purchase M.A. Silva. VGR is a leading manufacturer of glass bottles and packaging for wines and M.A. Silva is a manufacturer of premium natural corks. What is the expected effect of this merger on price-cost margins?
An economic system that answers the What, How, and For Whom questions using prices determined by the interaction of the forces of supply and demand is a:
a. market economy. b. command economy. c. traditional economy. d. none of these.
In September 2010, the NBER's Business Cycle Dating Committee decided that the recession that began in December of 2007 had ended and that the lowest point of production was July of 2009. The NBER does not use a popular definition of recession-two quarters of falling GDP-but looks at a variety of monthly statistics to date business cycles.What is the NBER?
A. National Board of Economic Recovery, part of the Department of Commerce B. National Budget Estimation Review, part of the Congressional Budget Office C. National Business Education Roundtable, part of the Federal Reserve D. National Bureau of Economic Research, a nonprofit, private organization