What inputs are included in the aggregate production function, and what is the economic impact of those inputs?
What will be an ideal response?
The number of workers, educational and skill levels, equipment and structures, raw materials, and knowledge are the inputs for the aggregate production function. With more workers, the economy will grow because more is produced. With increased education and skill levels, the workers will become more productive, causing the economy to grow even further. With upgraded equipment and infrastructure, the workers have the opportunity to be more efficient, increasing productivity and growing the economy. With access to raw materials for production, the productivity of workers and businesses increases. Technology and business know-how can improve production processes, allowing higher productivity and economic growth.
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The GATT is
A) an international treaty. B) an international U.N. agency. C) an international IMF agency. D) a U.S. government agency. E) a collection of tariffs.
A bond's price and its yield to maturity are inversely related because
A) discounting future payments at a higher rate reduces the present value of the payments. B) discounting future payments at a higher rate increases the present value of the payments. C) an increase in the yield to maturity will lower a bond's coupon rate and hence its price. D) a fall in a bond's price will lower its par value and hence its yield to maturity.
Germany Inc refers to:
a. the use of corporations to produce output b. the close relationship between government and business c. raising capital through stock markets d. interlocking directorates and cross holdings e. none of the above
Which of the following is a general rule of business etiquette in the given city?
A) Beijing, China: If someone offers you his or her business car, accept it with both hands, read it immediately, and then present your business card to the person. B) Hong Kong, China: It is considered impolite to run out of business cards. C) Sydney, Australia: It is important to know about the latest sports matches. D) Berlin, Germany: When out with German business associates, try not to talk about sports. E) All of the above are examples of proper business etiquette around the world.