In a two-country world (consisting of country X and country Y), an increase in Real GDP in country X will shift country Y's AD curve leftward
Indicate whether the statement is true or false
False
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Technological change that affects the marginal products of high-skilled and low-skilled workers differently is called ________ technological change.
A. marginal-productivity B. capital-labor C. high-low D. skill-biased
Refer to the scenario above. Robert should use ________ to play this game
A) forward induction B) backward induction C) mixed strategies D) his dominated strategy
Two factories make wooden chairs. If the workers in factory A make each chair from start to finish and the workers in factory B divide labor, one would assume
A) the chairs in factory A are of higher quality. B) the workers in factory B have more job satisfaction. C) factory B can take advantage of division of labor and produce more efficiently. D) factory A can take advantage of division of labor and produce more efficiently.
At his profit-maximizing level of output, a monopolist's average total cost curve is tangent to his demand curve. The monopolist
a. is earning a negative economic profit. b. may or may not be earning a negative economic profit. c. is earning zero economic profit. d. is earning a positive economic profit.