If a foreign company operating in a country changes work rules resulting in a more flexible allocation of resources in the various sectors of the domestic economy,________
A) the productivity of domestic workers is likely to decrease
B) the productivity of domestic workers is likely to increase
C) the gross domestic product of the economy is likely to decrease
D) the Human Development Index of the country is likely to decrease
B
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If the production technology has increasing returns to scale, short run marginal cost curves must be downward sloping.
Answer the following statement true (T) or false (F)
A strength of the market economy is that:
a. it results in an equal distribution of wealth. b. resources are used efficiently. c. planners rather than consumers determine answers to the basic economic questions. d. information for production and distribution decisions passes directly from the government to buyers.
The opportunity cost of going to movies is the price of entry into the movies
a. True b. False Indicate whether the statement is true or false
A bank faces a required reserve ratio of 5 percent. If the bank has $200 million of checkable deposits and $15 million of total reserves, then how large are the bank's excess reserves?
a. $10 million b. $0 c. $5 million d. $15 million