In the 2-factor, 2 good Heckscher-Ohlin model, the country with a relative abundance of ________ will have a production possibility frontier that is biased toward production of the ________ good
A) labor; labor intensive
B) labor; capital intensive
C) land; labor intensive
D) land; capital intensive
E) capital; land intensive
A
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A monopolist is earning an economic profit. At the present output level, MR = $35 and MC = $30 . Which of the following should the firm do to increase profit?
a. raise output and lower price b. do not change price or output c. raise price and raise output d. raise price and lower output e. lower price and lower output
In order to see how much production has increased, we need to extract the effects of lower prices on nominal GDP.
Select whether the statement is true or false. A. True B. False
Historically, when a diverse set of stocks is held over a lengthy time period, stocks have yielded a ______ rate of return and the variation in the rate of return has been _______. (Fill in the blanks)
A) low; high B) high; high C) high; low D) low; low
If the graph shown is displaying a competitive labor market:
A. Q* would represent the most employment possible for the market. B. D would represent the workers' demand for jobs at each wage. C. P* would represent the equilibrium wage. D. S would represent the firm's supply of jobs at each wage.