Quiz
IE Chapter 7
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Fragen in diesem Quiz (30)
1If a firm's output more than doubles when all the inputs are doubled, production is said to occur under conditions of
- Aincreasing returns to scale.
- Bimperfect competition.
- Cintra-industry equilibrium.
- Dconstant returns to scale
- Edecreasing returns to scale
2One advantage of the specialization that results from international trade is that countries can take advantage of
- Ascale economies
- Bproduction diversification
- Csmaller countries.
- Dtaste reversals.
- Elower transport costs.
3If a firm's output doubles when all inputs are doubled, production is said to occur under conditions of
- Aconstant returns to scale
- Bincreasing returns to scale.
- Cimperfect competition.
- Dintra-industry equilibrium.
- Edecreasing returns to scale.
4If a firm's output less than doubles when all inputs are doubled, production is said to occur under conditions of
- Aincreasing returns to scale.
- Bimperfect competition.
- Cintra-industry equilibrium.
- Dconstant returns to scale
- Edecreasing returns to scale
5The existence of external economies of scale
- Amay be associated with a perfectly competitive industry
- Bcannot be associated with a perfectly competitive industry.
- Ctends to result in one huge monopoly.
- Dtends to result in large profits for each firm.
- Efocuses more on individual firms than the industry as a whole.
6The existence of internal economies of scale
- Acannot be associated with a perfectly competitive industry
- Bmay be associated with a perfectly competitive industry.
- Cis associated only with sophisticated products such as aircraft.
- Dcannot form the basis for international trade.
- Efocuses more on the industry than individual firms.
7When there are external economies of scale, an increase in the size of the market will
- Aincrease the number of firms and lower the price per unit.
- Bincrease the number of firms and raise the price per unit.
- Cdecrease the number of firms and raise the price per unit.
- Ddecrease the number of firms and lower the price per unit.
- Enot affect the number of firms, but will lower the price per unit.
8If some industries exhibit internal increasing returns to scale in each country, we should not expect to see
- Aperfect competition in these industries
- Bintra-industry trade between countries.
- Cinter-industry trade between countries.
- Dhigh levels of specialization in both countries.
- Eincreased productivity in both countries.
9External economies of scale arise when the cost per unit
- Afalls as the industry grows larger and rises as the average firm grows larger.
- Brises as the industry grows larger and falls as the average firm grows larger.
- Cfalls as the industry and the average firm grows larger.
- Dremains constant over a broad range of output.
- Erises as the industry and the average firm grows larger.
10Internal economies of scale arise when the cost per unit
- Afalls as the average firm grows larger.
- Brises as the industry grows larger.
- Cfalls as the industry grows larger.
- Drises as the average firm grows larger.
- Eremains constant over a broad range of output
11Where there are internal economies of scale, the scale of production possible in a country is constrained by
- Athe size of the domestic plus the foreign market
- Bthe size of the country.
- Cthe size of the trading partner's country.
- Dthe size of the domestic market.
- Ethe size of the foreign market.
12Internal economies of scale will ______________________ average cost when output is __________ by ________________.
- Areduce; increased; a firm
- Bincrease; increased; a firm
- Creduce; increased; the industry
- Dincrease; increased; the industry
- Ereduce; reduce; the industry
13External economies of scale will ___________ average cost when output is _______________ by __________________.
- Areduce; increased; the industry
- Breduce; increased; a firm
- Cincrease; increased; a firm
- Dincrease; increased; the industry
- Ereduce; reduce; the industry
14External economies of scale often arise because similar firms
- Alocate in the same geographic region
- Bcollude to fix prices and increase profits.
- Chave excellent internal logistics.
- Dagree to cooperate to expand global trade.
- Ehave economies of scale in production.
15The Internet has made transactions between businesses (B2B trading) fast and easy. Any business in any location can access specialized knowledge, labor, and materials. It is likely that these virtual economic communities will result in
- Aexternal economies of scale
- Binternal economies of scale.
- Cconsolidation of industries into a small number of powerful firms.
- Dsuppression of innovations and collusive behavior, driving up prices.
- Egovernment intervention and regulation.
16The long-run market supply curve in the presence of internal economies of scale is ________, and in the presence of external economies of scale, it is ________.
- Adownward sloping; downward sloping
- Bupward sloping; horizontal
- Chorizontal; upward sloping
- Ddownward sloping; horizontal
- Eupward sloping; downward sloping
17If output is increased in the long-run, average production costs in the presence of internal economies of scale will ________, and in the presence of external economies of scale, will ________.
- Adecrease; decrease
- Bincrease; remain constant
- Cremain constant; increase
- Ddecrease; remain constant
- Eincrease; decrease
18If the firms in a market have constant returns to scale internally while there are external economies of scale for the industry, a firm's long-run supply curve will be ________ and the long-run market supply curve will be ________.
- Adownward sloping; downward sloping
- Bupward sloping; horizontal
- Chorizontal; downward sloping
- Ddownward sloping; horizontal
- Eupward sloping; downward sloping
19If output is increased in the long-run, then in the presence of internal economies of scale the number of firms will ________, and in the presence of constant external returns to scale the number of firms will ________.
- Adecrease; decrease
- Bincrease; remain constant
- Cremain constant; increase
- Ddecrease; remain constant
- Eincrease; decrease
20If output is increased in the long-run, average production costs in the presence of internal diseconomies of scale will ________, and in the presence of external diseconomies of scale, will ________.
- Adecrease; decrease
- Bincrease; remain constant
- Cremain constant; increase
- Ddecrease; remain constant
- Eincrease; decrease
21If two countries begin trade and both produce a product subject to external economies of scale, then the country with the ________ rate of production will ________ production until it controls ________ of the market
- Ahigher; increase; 100%
- Bhigher; increase; 50%
- Clower; increase; 100%
- Dlower; increase; 50%
- Ehigher; decrease; 0%
22In the presence of external economies of scale, trade
- Amay or may not improve welfare in both countries.
- Bwill unambiguously improves welfare in both countries.
- Cwill unambiguously worsens welfare in both countries.
- Dwill unambiguously worsen welfare in the exporting country and improve welfare in the importing country.
- Ewill unambiguously improve welfare in the exporting country and worsen welfare in the importing country.
23A learning curve relates ________ to ________ and is a case of ________ returns.
- Aunit cost; cumulative production; dynamic increasing returns
- Boutput per time period; long-run marginal cost; dynamic increasing returns
- Cunit cost; cumulative production; dynamic decreasing returns
- Doutput per time period; long-run marginal cost; dynamic decreasing returns
- Elabor productivity; education; increasing marginal returns
24The learning curve describes the ________ relationship between ________ and ________.
- Ainverse; unit cost; cumulative output
- Bdirect; unit cost; cumulative output
- Cinverse; education; annual income
- Ddirect; education; annual income
- Edirect; education; labor productivity
25If two countries begin trade and both produce a product subject to internal economies of scale, then the country with the ________ rate of production will ________ production until it controls ________ of the market.
- Ahigher; increase; 100%
- Bhigher; increase; 50%
- Clower; increase; 100%
- Dlower; increase; 50%
- Ehigher; decrease; 0%
26Restaurant meals are an example of a ________ good and clothing is an example of a ________ good. The pattern of interregional trade is determined primarily by ________.
- Anontraded; traded; external economies.
- Btraded; nontraded; internal economies
- Cnondurable; durable; natural resource
- Ddurable; nondurable; natural resources
- Econsumer; style; population
27The share of ________ goods in employment is ________ across the country. The share of ________ goods in employment is ________ across the country.
- Anontraded; uniform; traded; variable
- Btraded; uniform; nontraded; variable
- Cdurable; uniform; nondurable; variable
- Dnondurable; uniform; durable; variable
- Enontraded; variable; traded; uniform
28Patterns of interregional trade are primarily determined by ________ rather than ________ because factors of production are generally ________.
- Aexternal economies; natural resources; mobile
- Binternal economies; external economies; mobile
- Cexternal economies; population; immobile
- Dinternal economies; population; immobile
- Epopulation; external economies; immobile
29The primary determinant of patterns of interregional trade is
- Aaccidents of history.
- Bresource allocations.
- Cfactor abundance.
- Dweather.
- Ecentralized optimization.
30The study of factors that influence both international and interregional trade is referred to as
- Aaccidents of history.
- Beconomic geography.
- Cfactor abundance theory.
- Dweather analysis.
- Ecentralized optimization.
Informationen
- Beschreibung
- Chapter 7
- Autor
- ulckapatel
- Sprache
- English
- Aufrufe
- 236
- Schlagwörter
- Bewertung
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