Market Index
What will be an ideal response?
Tracking used to keep updated with with the performance of specific "basket" of stocks
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In a two-nation world, comparative advantage in the production of a particular product means that one nation can produce
A. the product at a lower domestic opportunity cost than the other nation. B. more of the product than the other nation. C. the product with fewer inputs than the other nation. D. the product at lower average cost than the other nation.
Suppose consumer tastes and preferences shift from pizza to tacos. In the short run case, these changing tastes will result in pizza restaurants ________ pizza prices and taco restaurants ________ taco prices
A) decreasing; increasing B) decreasing; decreasing C) increasing; increasing D) increasing; decreasing
David's firm experiences diminishing marginal product for all ranges of inputs. The total cost curve associated with David's firm
a. gets flatter as output increases. b. gets steeper as output increases. c. is constant for all ranges of output. d. is unrelated to the production function.
Microeconomics is the branch of economics that concerns
a. the overall health of the economy b. the behavior of individual households, firms, and governments c. the overall level of trade between nations d. local governments only e. the general level of output