Without government, the "for whom" question could not be solved.
a. true
b. false
Ans: b. false
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An optimal choice can be characterized as a decision made by someone who is satisficing.
Answer the following statement true (T) or false (F)
The rate of interest charged by the Federal Reserve to member banks for reserves borrowed from the Fed is known as the:
a. repurchase rate. b. discount rate. c. Q-ceiling rate. d. federal funds rate.
For a given year, productivity in a particular country is most closely matched with that country's
a. level of real GDP over that year. b. level of real GDP divided by hours worked over that year. c. growth rate of real GDP divided by hours worked over that year. d. growth rate of real GDP per person over that year.
Productive efficiency refers to:
A. the use of the least-cost method of production. B. the production of the product mix most wanted by society. C. the full employment of all available resources. D. production at some point inside of the production possibilities curve.