A firm will generally believe that if it increases its spending on R&D its competitors will not follow, but if it decreases its spending they will follow
a. True
b. False
Indicate whether the statement is true or false
False
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The table below represents five points on the production possibility frontier for the small country of Bistro, which produces only crackers (measured in thousands of boxes) and cheese (measured in thousands of pounds): A B C D E Crackers 40 30
20 10 0 Cheese 0 5 10 15 20 Does the production possibility frontier demonstrate the law of increasing opportunity cost? How can you tell?
Which of the following are scarce? Select one:
a. time for recreation b. clean air c. information d. all of the above
The minimally adequate living standard for a U.S. family of four is known as the
A. U.S. poverty threshold. B. Global poverty standard. C. United Nations Poverty Goal. D. Millennium Poverty Goal.
If the implied exchange rate between Big Mac prices in the United States and the Philippines is 68 pesos per dollar, but the actual exchange rate between the United States and the Philippines is 43 pesos per dollar, which of the following would you
expect to see? A) a depreciation of the dollar B) an increase in the demand for dollars C) an appreciation of the Philippine pesos D) a decrease in the demand for dollars