Typically, the greater the specialization of resources
A) the less production that takes place.
B) the greater the bow of the production possibilities curve.
C) the poorer the country becomes.
D) the greater the unemployment in the country.
Answer: B
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If a firm has consumers with different demands practices two-part pricing and it is profitable for the firm to sell to all consumer types, the profit-maximizing user fee will be ________ the firm's marginal cost of use.
A) greater than B) double C) less than D) equal to
Northeastern farmers responded to increasing western competition in the 1800s by
a. reducing grain cultivation. b. increasing production of dairy products. c. growing hay to feed city horses. d. moving to the city or the West. e. All of the above.
A currency depreciation will put upward pressure on the price level
a. True b. False Indicate whether the statement is true or false
Taxpayers would be better off if a tax could just raise revenue without ______
a. altering the relative prices they face b. altering their preferences for a good c. tax shifting d. any income effects