A U.S. company is attempting to cut costs by shifting some of its services to Thailand. This process of shifting production of products or services overseas to cut costs often results in
A) lower production quantities of those products or services.
B) lower consumer prices on those products or services.
C) greater potential for market failure for those products and services.
D) greater economic uncertainty in the market for those products and services.
B
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Schooling is subsidized in the United States in part
A) so that the golden rule capital level can be reached. B) because otherwise people would not get educated. C) because there is a constitutional right to education. D) because there is a positive externality from schooling.
Refer to Scenario 3.1. What is the total utility that Andy will receive if he consumes 5 units of potato chips (Qp) and no Cola drink (Qc)?
A) 4 utils B) 10 utils C) 30 utils D) 40 utils E) none of the above