Dell computers has increased production efficiency by
A) producing output with fewer inputs.
B) expanding the amount of inputs used.
C) outsourcing production.
D) relying on decreasing returns to scale.
A
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The Widgetville County Wolfpack has won 90 percent of their last 20 games played under a full moon. This means:
A. the weather affects how they play. B. there is a positive correlation between their play and the occurrence of a full moon. C. that full moons cause the team to play better. D. that causation can be found between the two events.
Barter can best be defined as:
a. the direct exchange of one good for money. b. the direct exchange of money for a good. c. the direct exchange of goods and services without the use of money. d. the direct exchange of labor services for wages. e. the payment of interest on a savings account.
Suppose that a firm chose an output level where the total cost and total revenue curves intersect. At this level of output,
a. the firm is maximizing profits b. the firm is minimizing losses c. profit is zero d. total revenue is maximized e. total cost is minimized
Suppose the population (age 16 and over) of Angola is 100 million; 5 million are unemployed, and 70 million hold jobs. The labor force participation rate in Angola is
a. 5 percent. b. 65 percent. c. 70 percent. d. 75 percent.