In the above figure, the most efficient way to produce 10 units is to hire
A) 1 worker.
B) 2 workers.
C) 3 workers.
D) 5 workers.
B
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If the ratio of price of cloth (PC) divided by the price of food (PF) increases in the international marketplace, then
A) the cloth exporter will increase the quantity of cloth produced. B) the cloth exporter will increase the quantity of cloth exported. C) the food exporter will increase the quantity of food exported. D) the cloth exporter will decrease the quantity of cloth exported. E) the country would import more cloth.
Immediately following a business cycle "peak" comes a
A) "trough." B) "recession." C) "expansion." D) "recurrence."
The combined size and income effects of the Uruguay Round tend to
A. decrease nitrogen dioxide emissions in the European Union and Japan. B. increase carbon monoxide emissions in developed countries. C. decrease pollution levels worldwide by more than one percent. D. increase pollution levels in developing countries.
When there is an increase in the wages the banking industry offers accountants, what happens to the supply of accountants available to other industries?
A. The supply to other industries increases. B. The supply curve for other industries shifts to the right. C. The supply to other industries falls. D. no change