Refer to the table below. If a technological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be:
A. $11
B. $12
C. $13
D. $14
B. $12
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In the above figure, in order for this country to move from production possibilities frontier PPF1 to PPF2, it might
A) increase the skills and productivity of its work force. B) put all unemployed resources to work producing desired output. C) engage in exchange with other nations. D) increase the average level of prices for all goods produced and consumed.
If Country A's overall balance is equal to -$100 billion (minus $100 billion), then:
a. There is an excess demand for Country A's currency in the foreign exchange market that is being met by the central bank selling enough domestic currency to make up the difference. b. There is an excess supply of Country A's currency in the foreign exchange market that is being met by the central bank buying enough domestic currency to make up the difference. c. Country A's Overall balance cannot -$100 billion. It must equal 0. d. Country A's Current account must equal +$100 billion. e. Country A's Current account minus the capital account must equal +$100 billion
Companies have calculated their annual holding cost(CH) and annual ordering cost (Co). Which company uses EOQ for its order quantity?
a. Company E:CH-860 and CO - 1040 b. Company C:CH-1150 and CO - 1150 c. Company D:CH-790 and Co-650 d. Company A:CH-1290 and CO - 120 e. Company B:CH-1030 and CO - 1210
Refer to Exhibit 6. Who has the comparative advantage in the production of good Y?
A) Maria B) Maya C) Both Maria and Maya D) Neither Maria nor Maya.