Figure 3-22
a
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The uses-of-saving identity says that an economy's private saving is used for
A) investment, interest expenses, and the government budget deficit. B) investment, the government budget deficit, and the current account. C) investment, interest expenses, the government budget deficit, and the current account. D) investment, interest expenses, the government budget deficit, transfer payments, and the current account.
Consider the hypothetical supply and demand of Kidneys.
Suppose Kidneys cannot be sold, only donated (price is zero). How many kidneys are donated in this hypothetical situation?
A. 0
B. 900
C. 2000
D. 1200
For each of the following functions, describe returns to scale.
1. Q = K + L 2. Q = K1/2L3/4 3. Q = K2L
A radio manufacturer is experiencing theft problems at its warehouse and has decided to hire security guards to reduce the thefts. The firm wants to minimize the net cost of warehouse thefts.
Given the above info, in order to minimize the NET cost of theft, a firm should choose the level of theft prevention at which
A. the total benefit of theft prevention equals the total cost of the theft prevention. B. the marginal benefit of theft equals the marginal cost of the theft. C. the total cost of theft prevention equals the total cost of preventing theft. D. theft is eliminated. E. the marginal benefit of theft prevention equals the marginal cost of preventing theft.