Which is a good example of an increase in total factor productivity?
A) a tax cut
B) good weather
C) a company reducing its workforce
D) better credit conditions
B
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At one point along a PPF, 50 tons of coffee and 100 tons of bananas are produced. At another point along the same PPF, 30 tons of coffee and 140 tons of bananas are produced. The opportunity cost of a ton of coffee between these points is
A) 7/5 of a ton of bananas per ton of coffee. B) 1/2 of a ton of bananas per ton of coffee. C) 5/7 of a ton of bananas per ton of coffee. D) 2 tons of bananas per ton of coffee.
Capital is a stock variable
a. True b. False
A country that wants to create the highest level of economic integration would enter into a(n) Multiple Choice common market. free trade area. economic union. political union. customs union.
A. common market. B. free trade area. C. economic union. D. political union. E. customs union.
Below, the graph on the left shows the short-run cost curves for a firm in a perfectly competitive market, and the graph on the right shows the current market conditions in this industry. What is the maximum amount of profit the firm can earn?
A. $150 B. $80 C. $50 D. $40