The statement "Resources employed in producing X are better suited to making Y" is another way of saying resources
a. are specialized.
b. are scarce.
c. are used inefficiently.
d. are unproductive.
e. have no opportunity cost.
a
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International capital mobility refers to
A) the ease with which manufacturing equipment can be transported across countries. B) the ease with cash may be transferred from one country to another without having to be converted into a foreign currency. C) the ease with which investors move funds among international financial markets. D) the ease with which exchange rates may be adjusted to reflect changes in the relative economic strengths of countries.
The demand curve of a monopolistically competitive firm
A) is horizontal because the firm must cut its price to sell more. B) is perfectly elastic. C) is downward-sloping because it sells an identical product. D) is downward-sloping because it must cut its price to sell more.