Author Question: Which of the following is true about the U.S. trade with Ireland post-1990? a. The U.S. became a ... (Read 21 times)

Yi-Chen · **on:** Jun 30, 2018

Which of the following is true about the U.S. trade with Ireland post-1990?
a. The U.S. became a net exporter of software to Ireland.
b. Output of potato per acre doubled with the introduction of new techniques, making the U.S. a net exporter of potatoes to Ireland.
c. The U.S. production set shifted inward and Ireland gained advantage in the production of both software and potatoes.
d. Productivity growth in the U.S. software industry was higher despite the cost-shifting innovations witnessed Ireland.

Question 2

In the oil tanker industry, large companies have lower risk and are able to optimize vessel utilization. If consolidation allows companies to lower their long-run average total costs, this is an example of:
a. the opportunity costs of mergers.
b. the increase in utility of managers by being able to control larger companies.
c. the dangers of oil tankers to the environment.
d. the economies of scale in the oil tanker industry.
e. the law of diminishing returns.