How would you define a DD schedule?
A) the combinations of output and the exchange rate that must hold when the home money market and the foreign exchange market are in equilibrium
B) the combinations of output and the exchange rate that must hold when the output market is in short-run equilibrium
C) factors of production in the long run
D) the aggregate demand in relation to the foreign market value
E) the currency depreciation in relation to the exchange rate
B
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The cost-output elasticity equals 1.4. This implies that:
A) there are neither economies nor diseconomies of scale. B) there are economies of scale. C) there are diseconomies of scale. D) marginal cost is less than average cost.
Brazil gives cash payments to its poor citizens on the condition that those citizens' children stay in school. In terms of the determinants of productivity, how might this public policy contribute to higher productivity in Brazil?
The first unit of an information product is produced at a high fixed cost. Producing additional units entails relatively
A) high average variable cost. B) low marginal cost. C) low external cost. D) high social cost.
________ must approve consent decrees, that is, formal agreements on remedies between all parties to an antitrust case.
A. Congress B. The Commerce Department C. The FTC D. Courts