As we move along a bowed-out production possibility frontier, producing more tacos and less pizza, the opportunity cost of a pizza ________
A) increases
B) remains the same
C) decreases
D) increases and then decreases
C
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Suppose that Brazil is capital abundant and Chile is natural resource abundant. If timber is natural resource intensive and computers are capital intensive, then according to the Heckscher-Ohlin Theorem, Chile should export goods that
A) intensively use labor input. B) intensively use capital input. C) intensively use natural resources. D) use capital and labor in about equal proportions.
The increase in speed and power of personal computers over the past fifteen years has been phenomenal. Such technological change, with the old being ever more quickly replaced by the new, suggests growing ________ in ________ investment
A) instability, net B) instability, net and gross C) instability, gross D) stability, net and gross E) stability, net
One of the elements of monopolization is
A. having a significant pricing power due to an accident in the relevant market. B. the possession of monopoly power in the relevant market. C. having a superior product or having a superior business acumen.. D. when only one firm exists in an industry.
Which one of the following best describes how money and wealth are related?
A. Money is wealth but not all wealth is money. B. Money is a means of payment but is not part of wealth. C. Assets that are part of wealth always have a positive return while money does not. D. Wealth is a store of value and a means of payment while money is only a means of payment.