Anything whose value can change is a:
A) variable.
B) constant.
C) hypothesis.
D) all of the above.
Ans: A) variable.
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Which of the following is FALSE about firms organized along functional lines?
a. Workers develop functional expertise b. Workers can easily share information within their division c. They inhibit the exploitation of economies of scale d. None of the above
Total variable costs: a. Increase when quantity produced increases
b. Decrease when quantity produced increases. c. Sometime increase and sometime decrease when quantity produced increases. d. Can sometimes be constant over a substantial range of output.
"Not all government programs benefit the relatively poor." Discuss this statement with examples
Compared to the no-trade situation, when a country exports a good:
a. domestic consumers gain, domestic producers lose, and the gains outweigh the losses. b. domestic consumers lose, domestic producers gain, and the gains outweigh the losses. c. domestic consumers gain, domestic producers lose, and the losses outweigh the gains. d. domestic consumers gain, domestic producers lose, an equal amount.