Dr. Robert Park's assertion that "the science is just not that good" falls under which of the following key factors to consider in technology decisions as outlined in the text?
A. competency development
B. economic viability
C. technological feasibility
D. market receptiveness
E. organizational culture
Answer: A. competency development
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Production efficiency requires that
A) the economy be producing on the PPF but the marginal cost of a good does not need to equal its marginal benefit. B) the economy be producing on the PPF and that the marginal cost of a good equals its marginal benefit. C) the marginal cost of a good equals its marginal benefit but the economy does not need to be producing on its PPF. D) the society be producing at the point of allocative efficiency. E) opportunity costs be minimized.
The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2009. What is nominal GDP in 2009?
A) $410 B) $450 C) $900 D) $550 E) $460
A market is perfectly competitive if
A) each firm in it can influence the price of its product. B) there are many firms in it, each selling a slightly different product. C) there are many firms in it, each selling an identical product. D) there are few firms in the market.
When neither player has a dominant strategy
A) game theory will not provide information. B) no Nash equilibrium exists. C) at least one Nash equilibrium exists. D) the game cannot be analyzed.