The construct used to demonstrate efficient use of society’s resources is the
A. production possibilities frontier.
B. payoff matrix.
C. input–output table.
D. cost-benefit table.
Answer: A
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Suppose the average productivity of workers in Country A is equal to that of workers in Country B. If Country A has higher total efficiency units of labor than Country B, it implies that ________
A) Country B has a larger supply of workers B) Country A has a larger supply of workers C) Country B has a larger stock of capital D) Country A has a larger stock of capital
In the coordination failure model, a rightward shift in the labor supply curve
A) increases the real wage and increases employment. B) increases the real wage and decreases employment. C) decreases the real wage and increases employment. D) decreases the real wage and decreases employment.
Given the production function q = 4LK, what is the marginal product of labor when capital is fixed at 25?
A) 4K B) 100 C) 100K D) 100L
If the interest rate rises to 25% would the investment still take place?
a. Yes since NPV>0 b. No since NPV<0 c. Yes since the present value of the cash flows is greater than zero d. No since the present value of the cash flows is lesser than zero