The largest amount of state and local spending is spent on highways and other roads
a. True b. False
b
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The gross national product of a country for a certain year was $340,000
If the contribution of its factors of production in the production of various goods and services in other countries was worth $140,000 and the contribution of foreign factors of production in the production of goods and services in this country was worth $50,000, the gross domestic product of the country for that year was ________. A) $430,000 B) $160,000 C) $480,000 D) $250,000
Refer to Scenario 1-3. Had the firm not produced and sold the last 400 t-shirts, would its profit be higher or lower, and if so by how much?
A) Its profit would be $800 higher. B) Its profit would be $4,000 lower. C) Its profit would be $4,800 higher. D) Its profit would be $800 lower.
Eighteenth century declines in Atlantic and Caribbean shipping costs were due to:
a. the reduction in armaments on commercial vessels. b. decreased crew sizes. c. falling insurance rates. d. reduced layover times in ports. e. All of the above.
The primary source of scale diseconomies appears to be
a. a firm's inability to acquire quality resources b. too little demand for the firm's product c. consumers who resist dealing with large firms d. division of labor e. the organizational difficulties of managing an ever larger enterprise