A. relative factor competition
B. relative factor mobility
C. relative factor substitution
D. relative factor endowments
Related Mcqs:
- Pricing to cover variable costs and some fixed costs as in the case of some automobile distributorships that sell below total costs is typical of which of the following pricing objectives ?
A. current profit maximization
B. product quality leadership
C. Market share leadership
D. Survival - How has the relative gap between GNP per capita for Western Europe and GNP per capita for African less-developed countries changed from the late nineteenth century to the present ?
A. declined
B. increased
C. remained the same
D. cannot be determined - In the early eighties, the Federal Reserve pursed a tight monetary policy. All else being equal. the impact of that policy was to interest rates in the United States relative to those in Europe and cause the dollar to _______ against European currencies?
A. decrease; depreciate
B. decrease; appreciate
C. increase; depreciate
D. increase; appreciate - A change in the relative prices of which of the following pair of goods would likely cause the smallest substitution effect ?
A. right shoes and left shoes
B. petrol from BP and petrol from shell
C. kit-Kat chocolate snacks and Twix chocolate snacks
D. coke and Pepsi - An export quota agreement to stabilize the price of bauxite tends to be more successful when the member producer countries as a percentage of the world’s producer countries is __________ and the _________ it is for the member producer countries to store/stock pile bauxite?
A. relatively small; more difficult
B. relatively small; easier
C. relatively large; more difficult
D. relatively large; easier - If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?
A. common market
B. free trade area
C. customs union
D. federation - Engineers for the All-Terrain Bike Company have determined that a 15% increase in all inputs will cause a 15% increase in output Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases?
A. average costs to remain constant
B. average costs to decrease
C. average costs to increase
D. marginal costs to increase - If a firm wage costs increase this will cause __________ and __________?
A. marginal cost to increase, output to fall
B. marginal revenue to increase output to fall
C. opportunity cost to increase the firm will close
D. average cost will rise output will increase ____ output and an upward shift in marginal revenue ____ output - By adjusting the model of comparative advantage to include transportation costs along with production costs we would expect ?
A. The prices of trade goods to be lower than when there are no transportation costs
B. specialization to stop when the production costs of the trading partners equalize
C. The volume of trade to be less than when there are no transportation costs
D. The gains from trade to be greater than when there are no transportation costs - If marginal costs equal average total costs ?
A. average total cost is falling
B. average total cost is raising
C. average total cost is maximized
D. average total cost is minimized
