The relationship between inputs and outputs is known as
A. marginal product.
B. manufacturing.
C. business.
D. a production function.
Answer: D
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The perfectly competitive firm's marginal revenue curve is
A) exactly the same as the marginal cost curve. B) downward-sloping, at twice the (negative) slope of the market demand curve. C) vertical. D) horizontal. E) upward-sloping.
Which of the following sequences best explains the negative slope of the aggregate-demand curve?
a. price level ? ? demand for money ? ? equilibrium interest rate ? ? quantity of goods and services demanded ? b. price level ? ? demand for money ? ? equilibrium interest rate ? ? quantity of goods and services demanded ? c. price level ? ? demand for money ? ? equilibrium interest rate ? ? quantity of goods and services demanded ? d. price level ? ? equilibrium interest rate ? ? demand for money ? ? quantity of goods and services demanded ?
Suppose the Northwestern Bank has excess reserves of $12,000 and outstanding checkable deposits of $125,000. If the reserve requirement is 20 percent, what are the bank's actual reserves?
A. $47,000 B. $37,000 C. $44,000 D. $25,000
The production technique that is most efficient is the one that produces a given amount of output:
A. using the least amount of labor resources B. at the highest price per unit C. at the lowest cost per unit D. that yields the highest revenues