Mock Exam 3

Mock Exam 3 - Mock Exam III ECON 452-500 Prof: Diego...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Mock Exam III ECON 452-500 Prof: Diego Vacaflores 1. During the mass migration period of late 19th-early 20th centuries, (a) wages rose in the origin countries and fell in the destination countries. (b) wages fell in the origin countries and rose in the destination countries. (c) wages generally rose faster in the origin countries. (d) wages generally rose faster in the destination countries. (e) wages generally fell faster in the origin countries. 2. International labor mobility (a) leads to wage convergence by raising wages in destination country and lowering in source country. (b) is in accordance with the specific factors model (c) is in accordance with the Heckscher-Ohlin factor proportions model. (d) leads to wage convergence by raising wages in source and lowering them in destination country. (e) is in accordance with scale economy model. 3. In a typical short-run production function, as labor increases (a) the marginal product of capital decreases. (b) the overall product of labor decreases. (c) the average product of labor decreases. (d) the marginal product of labor decreases. (e) None of the above. 4. The advantage of internalization for vertical integration for a firm is best described by (a) the fact that firms can sell in different markets (countries). (b) the overall productivity advantage from better technology. (c) the class presentation giving by Prof. Vacaflores. (d) the consolidation of the different stages of the production process.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This test prep was uploaded on 03/25/2008 for the course ECON 452 taught by Professor Vacaflores during the Spring '06 term at Texas A&M.

Page1 / 4

Mock Exam 3 - Mock Exam III ECON 452-500 Prof: Diego...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online