According to Thomas (1954), increased immigration provided incentive to invest in capital that was
(a) labor-using, resulting in capital widening.
(b) labor-using, resulting in capital deepening.
(c) labor-saving, resulting in capital widening.
(d) labor-saving, resulting in capital widening.
(a)
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This president made the campaign promise: "Read my lips: no new taxes." ______________.
Fill in the blank(s) with the appropriate word(s).
When a firm maximizes its profit, which of the following is correct for firms in monopolistic competition and perfect competition?
A) P = MC for both types of firms. B) P = MR = MC for firms in perfect competition and P > MR = MC for firms in monopolistic competition. C) MR = MC for firms in perfect competition and MR > MC for firms in monopolistic competition. D) P > MR = MC for firms in both perfect competition and monopolistic competition. E) P = ATC always for firms in both perfect competition and monopolistic competition.
A firm realizes that the market price has fallen below its average total costs, and it is now earning a loss. What is the best action for the firm to take in the short run?
A. Produce where MC = MR to minimize losses if P > AVC. B. Shut down if price is greater than average variable costs. C. Produce where MC = MR to minimize losses if P < AVC. D. Shut down if total revenue is less than fixed costs.
Some evidence suggested that intra-industry trade between similar countries had a _______ impact on domestic workers but later evidence indicates that it all depends on how ______ the labor market is.
a. small; sticky b. large; sticky c. small; flexible d. large; flexible