The president of Toyota's Georgetown plant was quoted as saying, "Demand for high volumes saps your energy. Over a period of time, it eroded our focus [and] thinned out the expertise and knowledge we painstakingly built up over the years"
This quote suggests that
A) as Toyota expanded its capacity, it experienced diseconomies of scale.
B) Toyota was focused on "churning" out cars for which it did not invest sufficiently in training its workers.
C) high demand for Toyota's cars prevented the company from focusing on its strength: auto design.
D) Toyota was experiencing an excess demand for its automobiles which it had difficulty keeping up with.
A
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In terms of a nation's production possibilities frontier, what impact does international trade have?
A) International trade shifts the nation's production possibilities frontier outward. B) International trade shifts the nation's production possibilities frontier inward. C) International trade allows the nation to consume at a point outside its production possibilities frontier. D) International trade shifts the production possibilities frontier outward for the goods that are exported and inward for the goods that are imported. E) International trade shifts the production possibilities frontier outward for the goods that are imported and inward for the goods that are exported.
A second or third worker may have a higher marginal product than the first worker in certain circumstances
a. True b. False Indicate whether the statement is true or false