A means of measuring quantities of fabric and garments that are being exported or imported.
Ans: Square meter equivalent
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Moving from one point to another on a production possibilities frontier implies
A) increasing the production of both goods. B) changing the amount of factors of production that are employed. C) decreasing the production of both goods. D) increasing the production of one good and decreasing the production of another. E) holding the production levels of both goods constant.
If output changes in fixed proportion to a change in all of a firm’s productive resources, the firm has
a. constant marginal returns. b. constant returns to scale. c. decreasing marginal returns. d. decreasing returns to scale.
According to the theory of hysteresis, a prolonged recession will:
a. decrease the natural rate of unemployment. b. increase cyclical unemployment. c. decrease the sacrifice ratio. d. increase the natural rate of unemployment.
During periods of hyperinflation, which of the following is the most likely response of consumers?
A. Save as much as possible. B. Spend money as fast as possible. C. Invest as much as possible. D. Lend money.