The Impact of Increasing, as Opposed to Constant Costs Is

question 23

Multiple Choice

The impact of increasing, as opposed to constant costs is to:

• A)intensify and prolong the comparative advantages which any nation may have initially.
• B)expand the limits of the terms of trade.
• C)cause the basis for further specialization to disappear as nations specialize in accordance with comparative advantage.
• D)cause nations to realize economies of scale in those products in which they specialize.

Understand the concept of competition types and their roles in species interactions.

Comprehend mutualism and its significance in ecological relationships.

Identify and describe different strategies of resource partitioning and their ecological implications.

Recognize the importance of keystone species and their impact on community structure.

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Definitions:

FICA Tax

Federal Insurance Contributions Act tax used to finance federal programs for old-age and disability benefits (social security) and health insurance for the aged (Medicare).

Payroll Tax

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Interest-Bearing Note

A debt security that pays interest to the holder, typically at a fixed rate, until maturity.

Deducts

Refers to the act of subtracting an amount from a total, often used in accounting and finance to calculate net values.