External link to Question : 5.2   Effects of International Trade Between Two-Factor Economies 1) In the : 1303497

Question : 5.2   Effects of International Trade Between Two-Factor Economies 1) In the : 1303497

  5.2   Effects of International Trade Between Two-Factor Economies   1) In the 2-factor, 2 good Heckscher-Ohlin model, trade will ________ the owners of a country’s ________ factor and will ________ the good that uses that factor intensively. A) benefit; abundant; export B) harm; abundant; import C) benefit; scarce; export D) benefit; scarce; import E) harm; scarce; export     2) According to the Heckscher-Ohlin […]

External link to Question : 20.4   Chapter Figures The figure above shows Lorenz curves for a : 1238947

Question : 20.4   Chapter Figures The figure above shows Lorenz curves for a : 1238947

  20.4   Chapter Figures   The figure above shows Lorenz curves for a nation.   1) Based on the figure above, if the poorest 20 percent group of households increased the share of the nation’s income they receive, then A) there is a movement up along the Lorenz curve for income. B) there is a movement down along the Lorenz curve for income. C) the […]

External link to Question : 11) The figure above illustrates the bagel market. Which of : 1239143

Question : 11) The figure above illustrates the bagel market. Which of : 1239143

  11) The figure above illustrates the bagel market. Which of the following statements is correct? A) With a price ceiling of $1.00 per bagel, the price of a bagel is $1. B) With a price ceiling of $3.00 per bagel, the price of a bagel is $2. C) With no government intervention, the equilibrium price of a bagel is $2. D)  Only answers A […]

External link to Question : 21) Some policymakers have argue that products like cigarettes, alcohol, : 1245108

Question : 21) Some policymakers have argue that products like cigarettes, alcohol, : 1245108

    21) Some policymakers have argue that products like cigarettes, alcohol, and sweetened soda generate negative externalities in consumption. All else equal, if the government decided to impose a tax on soda, the equilibrium quantity of soda would ________ and the equilibrium price of soda would ________. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease   22) The 2005, 24 […]

External link to Question : 131.Whichofthefollowingisnotanassumptionoftheproductionspossibilitiesfrontier? a.Acountryproducesonlytwogoodsortypesofgoods. b.Technologydoesnotchange. c.Theamountofavailabl : 1261902

Question : 131.Whichofthefollowingisnotanassumptionoftheproductionspossibilitiesfrontier? a.Acountryproducesonlytwogoodsortypesofgoods. b.Technologydoesnotchange. c.Theamountofavailabl : 1261902

  131.Whichofthefollowingisnotanassumptionoftheproductionspossibilitiesfrontier? a.Acountryproducesonlytwogoodsortypesofgoods. b.Technologydoesnotchange. c.Theamountofavailableresourcesdoesnotchange. d.Thereisafixedquantityofmoney. 132.Whichofthefollowingisacorrectstatementaboutproductionpossibilitiesfrontiers? a.Aneconomycanproduceonlyontheproductionpossibilitiesfrontier. b.Aneconomycanproduceatanypointinsideoroutsideaproductionpossibilitiesfrontier. c.Aneconomycanproduceatanypointonorinsidetheproductionpossibilitiesfrontier,butnotoutsidethefrontier. d.Aneconomycanproduceatanypointinsidetheproductionpossibilitiesfrontier,butnotonoroutsidethefrontier. 133.Wherecananeconomynotproduce? a.insideitsproductionpossibilitiesfrontier b.onitsproductionpossibilitiesfrontier c.outsideitsproductionpossibilitiesfrontier d.attheendpointsofitsproductionpossibilitiesfrontier 134.Aneconomicoutcomeissaidtobeefficientiftheeconomyis a.usingallofthescarceresourcesithasavailable. b.conservingonresources,ratherthanusingallavailableresources. c.gettingallitcangetfromthescarceresourcesithasavailable. d.abletoproducemorethanwhatiscurrentlybeingproducedwithoutadditionalresources. 135.Productionisefficientiftheeconomyisproducingatapoint a.ontheproductionpossibilitiesfrontier. b.outsidetheproductionpossibilitiesfrontier. c.onorinsidetheproductionpossibilitiesfrontier. d.insidetheproductionpossibilitiesfrontier. 136.Ifaneconomyisproducingefficiently,then a.thereisnowaytoproducemoreofonegoodwithoutproducinglessofanothergood. b.itispossibletoproducemoreofbothgoodswithoutincreasingthequantitiesofinputsthatarebeingused. c.itispossibletoproducemoreofonegoodwithoutproducinglessofanothergood. d.itisnotpossibletoproducemoreofanygoodatanycost. 137.Aneconomy’sproductionoftwogoodsisefficientif a.allmembersofsocietyconsumeequalportionsofthegoods. b.thegoodsareproducedusingonlysomeofsociety’savailableresources. c.itisimpossibletoproducemoreofonegoodwithoutproducinglessoftheother. d.theopportunitycostofproducingmoreofonegoodiszero. 138.Whenaneconomyisoperatingatapointonitsproductionpossibilitiesfrontier,then a.consumersarecontentwiththemixofgoodsandservicesthatisbeingproduced. b.thereisnowaytoproducemoreofonegoodwithoutproducinglessoftheother. c.equalamountsofthetwogoodsarebeingproduced. d.Alloftheabovearecorrect. 139.Efficiencyisillustratedby a.boththeproductionpossibilitiesfrontierandthecircular-flowdiagram. b.neithertheproductionpossibilitiesfrontiernorthecircular-flowdiagram. c.theproductionpossibilitiesfrontieronly. d.thecircular-flowdiagramonly. 140.Supposeanationiscurrentlyproducingatapointinsideitsproductionpossibilitiesfrontier.Weknowthat a.thenationisproducingbeyonditscapacity,soinflationwilloccur. b.thenationisnotusingallavailableresourcesorisusinginferiortechnologyorboth. c.thenationisproducinganefficientcombinationofgoods. d.therewillbealargeopportunitycostifthenationtriestoincreaseproductionofanygood.    

External link to Question : 31.A market has four individuals considering buying a grill for : 1379023

Question : 31.A market has four individuals considering buying a grill for : 1379023

    31.A market has four individuals considering buying a grill for his backyard. Further assume that grills come in only one size and model. Abe considers himself a grill-master, and finds a grill a necessity, so he is willing to pay $400 for a grill. Butch is a meat-lover, honing his grilling skills, and is willing to pay $350 for a grill. Collin just […]

External link to Question : 41) Your production lines make a standardized product. Efficiency critical : 1346180

Question : 41) Your production lines make a standardized product. Efficiency critical : 1346180

    41) Your production lines make a standardized product. Efficiency is critical to your production costs. The majority of production line tasks are mechanical and repetitive. Which of the following would be most appropriate? A) Job enrichment B) Job rotation C) Work simplification D) Team-based job design 42) Which of the following would most likely increase as a result of work simplification? A) Costs […]

External link to Question : 41) Kelly’s Surf Shop orders 5,000 new surf boards at : 1240872

Question : 41) Kelly’s Surf Shop orders 5,000 new surf boards at : 1240872

    41) Kelly’s Surf Shop orders 5,000 new surf boards at the beginning of the year but only sells 4,500 by the end of the year. How are the 500 unsold surfboards accounted for in Gross Domestic Product?  A) They will be included in the nondurable consumption category of GDP. B) They will be included in the residential investment category of GDP. C) They […]

External link to Question : 21) Using the data in the table above, if the : 1239010

Question : 21) Using the data in the table above, if the : 1239010

  21) Using the data in the table above, if the price of a stapler is $8, then there is ________ of staplers, and the quantity of staplers demanded ________ the quantity of staplers supplied. A) a surplus; is greater than B) a surplus; is less than C) a shortage; is greater than D) a shortage; is less than E) neither a surplus nor a […]

External link to Question : 101.Suppose that when the price of novels goes from $15 : 1379016

Question : 101.Suppose that when the price of novels goes from $15 : 1379016

    101.Suppose that when the price of novels goes from $15 to $20 per book, production increases from 550 million books per year to 800 million books. Using the mid-point method, the price elasticity of supply would be: A. 0.77. B. 28.5 percent. C. 37 percent. D. 1.4. 102.A determinant of the price elasticity of supply that is also a determinant of the price elasticity of demand is: […]

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