The BRIC nations have one quarter of the world's GDP and more than 40 percent of its population
Indicate whether the statement is true or false
TRUE
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One way to explain the convexity of isoquants is to say that
A) as labor increases and capital decreases, MPL rises while MPK falls. B) as labor increases and capital decreases, MPL falls while MPK rises. C) as labor increases and capital decreases, MPL and MPK both fall. D) as labor increases and capital decreases, MPL and MPK both rise.
Which of the following are factors of production?
a. The outputs generated by the production process transforming land, labor, and capital in to goods and services. b. Restricted to the land resources such as natural resources that are unimproved by human economic activity. c. Land (natural resources), labor (human capital, entrepreneurship), and capital (constructed inputs such as factories). d. Just labor and capital in industrialized countries, where natural resources are no longer used to produce goods and services.
Which of the following would shift the supply of Green Bay Packers football jerseys to the left?
a. The Green Bay Packers make it to the Super Bowl. b. The price of the jerseys increases by $15. c. The technology of sewing machines use to make the jerseys improves. d. The cost of the fabric used to make the jerseys increases.
Four major rivers flow from the decreasing snow melt of the Himalayan mountains. If you are a resident of northern India, which of these four rivers is most likely to threaten food production?
A. The Indus B. The Yangtze C. The Mekong D. The Ganges