Which of the following is a reason behind the rise in US trade over the last 80 years?
A) Rising government expenditure B) Improved bureaucracy
C) Improved transportation technology D) Falling consumption expenditure
C
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If a customs union includes the lowest-cost world producer of a product, then member countries:
a. will always be better off in trade with that product. b. will always be worse off in trade with that product. c. can be better off or worse off depending on the strengths of the trade diversion and trade creation effects for that product. d. will no longer export or import that product.
According to the table below, what is the marginal cost of producing 90 units of output?QFCVC01,0000201,000350501,000700901,0001,0501251,0001,4001451,0001,7501601,0002,100
A. 21.00 B. 5.32 C. 8.75 D. 11.67
Total cost of production is the sum of total variable cost and total fixed cost. If the total fixed cost alone increases:
A. the average total cost curve shifts downward at all output levels. B. the marginal cost curve shifts upward at all output levels. C. the vertical distance between the average total cost curve and average variable cost curve increases at all output levels. D. the average variable cost curve shifts upward at all output levels.
Refer to the information provided in Table 23.1 below to answer the question(s) that follow. Table 23.1
Refer to Table 23.1. At an aggregate income level of $100, aggregate saving would be
A. -$70. B. -$30. C. $50. D. $70.