If more foreign auto plants relocate to the United States, we would expect
A) the U.S. supply curve for automobiles to shift to the right.
B) the U.S. supply curve for automobiles would shift to the left.
C) that the U.S. auto market would not respond.
D) that U.S. auto demand might change, but U.S. auto supply would remain static.
A
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Rebecca can stitch 6 shirts in a day while Eliza can stitch only 5 shirts in a day. Rebecca can stitch 2 trousers in a day while Eliza can stitch 3 trousers in a day. Which of the following is true in this case?
A) Rebecca has a comparative advantage in stitching trousers. B) Eliza has an absolute advantage in stitching trousers. C) Rebecca has an absolute advantage in stitching trousers. D) Eliza has a comparative advantage in stitching shirts.
Refer to Figure 15-15. Erickson Power is a natural monopoly because
A) average total cost is still declining when it intersects demand. B) of its continually declining marginal revenue curve as output rises. C) it is a power company and all power companies are natural monopolies. D) its marginal cost lies entirely below its long-run average cost.
Consider four possible benefits of a water resources project: I. Provides employment to construction workers currently building houses. II. Provides electric power to the market. III. Provides reduced flood risk to individuals living along the river. IV. Raises the profits of MacDonald's stands in the area that serve construction workers. Which of these are social benefits of the project?
a. All of them. b. I, II, and III, but not IV. c. I and III, but not II and IV. d. II and III, but not I and IV.
Increases in the capital-labor ratio generates capital broadening
Indicate whether the statement is true or false