Which of the following is true?
a. Competition from abroad fails to provide domestic producers with a strong incentive to improve the quality of their products and keep their costs low.
b. When economies of scale are important in an industry, international trade benefits domestic consumers but harms domestic producers.
c. When economies of scale are important in an industry, international trade will be particularly important for domestic producers operating in small countries.
d. Economies of scale eliminate the potential gains from international trade.
C
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The amount you pay for apps to download to your cell phone is an example of a(n) ________ cost
A) implicit B) opportunity C) explicit D) network
Nominal and real wage rates
A) must always change by the same amount. B) must always change in opposite directions by the same amount. C) must always change in the same direction but could change by different amounts. D) could change in opposite directions. E) must always change in the same direction, and the nominal wage rate must change more rapidly than the real wage rate.