In 2008, Precision Pattern Interiors, which makes high-end aircraft interiors, began a $1 million renovation of a building at the Hutchinson Air Base Industrial Tract south of Yoder, Kansas
The company will also add some $400,000 in new equipment and triple its Yoder work force. Which of Precision Pattern Interiors' decisions is a short run decision? A) triple its Yoder work force
B) $1 million renovation of a building at the Hutchinson Air Base Industrial Tract
C) $400,000 in new equipment purchases
D) All of these decisions are short run decisions.
A
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A point inside a production possibilities frontier
A) could indicate that some resources are unemployed. B) is unattainable. C) is more efficient than points on the production possibilities frontier. D) implies that too much capital and not enough labor are being used.
The curve that represents all possible combinations of goods that can be produced is called
A) the production possibilities curve. B) the resource allocation curve. C) the efficiency curve. D) the supply curve.
If the Chinese Yuan devalues against the US dollar, then
a. Both the US exporters and Chinese importers would benefit b. The US exporters would benefit while the Chinese importers would be hurt c. The US exporters would be hurt while the Chinese consumers would benefit d. Both the US exporters and Chinese importers would be hurt
The World Bank sorts countries into the following three major groups:
a. high-income economies, middle-income economies, low-spending economies b. high-spending economies, middle-spending economies, low-spending economies c. super-high-income economies, middle-income economies, low-income economies d. high-income economies, middle-income economies, zero-income economies e. high-income economies, middle-income economies, low-income economies