The theory that explains the shift in the production of color TV sets from the United States to Japan and Taiwan is called the _____ theory
a. productivity difference
b. factor abundance
c. product life cycle
d. preference
e. human skills
c
You might also like to view...
As illustrated in the above figure, after 40 gallons are produced each hour at Ike's Ice Cream Kitchen, the AVC curve starts to slope upward. The AVC starts to slope upward because the
A) MC curve slopes upward. B) MC exceeds the AVC. C) ATC curve has not yet reached its minimum. D) None of the above answers is correct.
The high tech boom of the late 1990s and early 2000s came to an end in part because
A) investment to address the Y2K problem was temporary. B) new computer applications were consumer oriented rather than directed at increasing productivity. C) the fiber optic cable boom has resulted in most optic cable capacity being unused. D) All of the above.
Price gouging
a. Outlaw trade at prices above a certain price level b. Outlaw trade at prices below a certain price level c. Is an act of charging a high price to take advantage of shortages created by natural disasters d. None of the above
If the quality of a good deteriorates while its price remains the same, then the value of a dollar
a. rises and the cost of living increases. b. rises and the cost of living decreases. c. falls and the cost of living increases. d. falls and the cost of living decreases.