________ are unit cost reductions associated with a large scale of output.Select one:a.Current account deficitsb.Economies of scalec.Current account surplusesd.Factor endowments

As output increases, fixed cost per unit:Group of answer choicesremains constant.increases.equals to fixed costs.decreases.

The more a company produces of some good, the lower is the cost of each unit - this is referred to as*1 pointbalance of paymentbalance of tradeabsolute advantageeconomies of scalecomparative advantagefree trade

Effective factor endowment isGroup of answer choicesthe amount of factor available in a given countrythe amount of factor available in a given country multiplied by the productivity of this factorthe productivity of a factor in a given countrythe amount of factor actually employed in production

As the quantity produced increasesthe cost of per unit production decreases.Select one:a.Product Differentiationb.Capital Requirementsc.Government Regulationsd.Economies of Scale

The primary reason why economies with lower output per capita converge on economies with higher output per capita is higher ____ .Group of answer choicestechnological progressentrepreneurial activitybudget deficitstrade surpluses