The president of Toyota's Georgetown plant was quoted as saying, "Demand for high volumes saps your energy. Over a period of time, it eroded our focus [and] thinned out the expertise and knowledge we painstakingly built up over the years." This quote
suggests that
A) Toyota was experiencing an excess demand for its automobiles which it had difficulty keeping up with.
B) as Toyota expanded its capacity, it experienced diseconomies of scale.
C) Toyota was focused on "churning" out cars for which it did not invest sufficiently in training its workers.
D) high demand for Toyota's cars prevented the company from focusing on its strength: auto design.
Answer: B
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A) she is acting like a child. B) she has a negative rate of time preference. C) she has a zero rate of time preference. D) she has a positive rate of time preference.
Refer to Table 2-10. What is Barney's opportunity cost of making a unicycle?
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The money demand curve has a negative slope because
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A tariff affects imports
a. by limiting quantity and raising price to a higher level. b. by reducing quantity demanded so that supply falls. c. by increasing supply, raising price, and reducing demand. d. by raising price and reducing quantity demanded.