The simultaneous export and import of widgets by the United States is an example of
A) intra-industry trade.
B) increasing returns to scale.
C) imperfect competition.
D) inter-industry trade.
E) the effect of a monopoly on international trade.
A
Economics
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The "fooling" model was developed by economist
A) Milton Friedman. B) Edward Prescott. C) Robert Lucas, Jr. D) John Maynard Keynes. E) Charles Bogle.
Economics
If the economy is characterized by diminishing or decreasing returns to scale, then a
A) doubling of inputs will lead to a constant output. B) doubling of inputs will lead to a constant output. C) doubling of inputs will lead to a two-fold increase in output. D) doubling of inputs will lead to a less than two-fold increase in output.
Economics