Refer to the Above Diagrams, One Can Conclude That If

question 57

Multiple Choice

Refer to the above diagrams, one can conclude that if expectations are always fulfilled, Fancy Auto Company:

• A)will never have to adjust the optimal output and employment levels accordingly.
• B)has to adjust the employment level but not the optimal output.
• C)has to adjust the optimal output level but not the employment.
• D)has to adjust both optimal output level and employment accordingly.

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Definitions:

Technologies

The application of scientific knowledge for practical purposes, especially in industry and everyday life.

Resource Endowments

The natural resources, capital, and human skills that a country or region possess, which can influence its economic development and trade patterns.

IACs

Industrialized Advanced Countries, a term sometimes used to refer to economically developed countries with high levels of industrialization.

Microcredit

Anti-poverty programs that lend small amounts of money to poor entrepreneurs.