AP (Advanced Placement) Microeconomics: Questions 109 - 112 of 398

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Question 109

Appeared in Year: 2015 (NET)

Question

MCQ▾

Which of the following assumption is the important assumption in the Heckscher-Ohlin theorem of international trade? (June)

Choices

Choice (5)Response

a.

No tariff

b.

Two commodities

c.

Constant tariff

d.

Two- factor method

e.

Question does not provide sufficient data or is vague

Question 110

Appeared in Year: 2016 (NET)

Question

MCQ▾

If the offer curves of the trading countries have constant slope, the terms of trade among them will be (Paper III)

Choices

Choice (5)Response

a.

increasing

b.

decreasing

c.

indeterminate

d.

constant

e.

Question does not provide sufficient data or is vague

Question 111

Appeared in Year: 2015 (NET)

Question

MCQ▾

Which one of the following curves will respond the supply curve of labor? (June)

Choices

Choice (5)Response

a.

Marginal product curve of labor

b.

Average product curve of labor

c.

Value of marginal product curve of labor

d.

Marginal revenue product curve of labor

e.

Question does not provide sufficient data or is vague

Question 112

Appeared in Year: 2016 (NET)

Question

MCQ▾

L shaped average cost curve is witnessed in the large firms because (Paper II)

Choices

Choice (5)Response

a.

The law of constant returns to scale operates.

b.

Only the law of increasing returns operates.

c.

Only the law of constant return operates.

d.

The operation of law of decreasing returns is continuously postponed.

e.

All of the above

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