According to the law of increasing costs, as a textile company spends more money to eliminate dust particles from the workplace to increase worker safety
A. the cost of reducing 70 percent of the dust in the factory will be the same as the cost of reducing the first 50 percent of the dust in the factory.
B. the cost of reducing 70 percent of the dust in the factory will be less than the cost of reducing the first 50 percent of the dust in the factory.
C. the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.
C. the cost of reducing 70 percent of the dust in the factory will be greater than the cost of reducing the first 50 percent of the dust in the factory.
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How is the Solow residual measured? What problems arise in its measurement when resource utilization varies over the business cycle? What implications do these measurement issues have for evidence supporting the RBC model?
What will be an ideal response?
Unlike a "service," a "good"
a. is desirable b. uses resources to satisfy wants c. is physical and tangible d. is abundant and free e. is a resource
Once a new technology spreads and is adopted by many countries:
A. the first country to use it may lose its comparative advantage. B. the country will have to have strict intellectual property rights protections in place. C. other countries will perfect it, putting them at an absolute advantage. D. the first country to use it will lose its absolute advantage.
When a nation chooses to fix or float, it should consider:
A) only its domestic banks, importers, and exporters. B) only whether it has a great deal of economic integration. C) only whether it has similar circumstances in terms of demand or supply shocks with its trading partners. D) both the level of economic integration and the similarity of demand or supply shocks.