What is the best explanation for why China and India have received so much international interest and foreign investment?
A) Their large populations
B) Their geographic location
C) Their control over natural resources
D) Government incentives provided to foreign firms
A
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If long-run average costs are falling, then the firm is experiencing diseconomies of scale
Indicate whether the statement is true or false
Total world output can increase without the addition of resources if
A. countries specialize in the product in which they have an absolute advantage and trade for products in which they have an absolute disadvantage. B. countries specialize in the product in which they have a comparative advantage and trade for products in which they have a comparative disadvantage. C. countries impose tariffs on the goods in which they have a comparative advantage. D. countries replace tariffs with quotas.