If the firm can only afford developing one of the software, which one would it rather develop (based on expected profit/gain)
a. The simple voice-activated software
b. The complicated thought-activated software
c. Neither of the software
d. Need more information
a
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An input's marginal revenue product is given by
a. the input's marginal expense times marginal revenue. b. the input's marginal expense times the input's marginal physical productivity. c. marginal revenue times the number of units employed. d. the input's marginal physical productivity times marginal revenue of the firm's output.
If the government were to increase taxes, it would be enacting:
A. contractionary fiscal policy. B. expansionary fiscal policy. C. contractionary monetary policy D. expansionary budgetary policy.
The supply of euros would come from
a. American demand for European real estate. b. European demand for U.S. government bonds. c. Americans vacationing in Barcelona, Spain. d. French supplies of wine to U.S. importers.
Elinor Ostrom won the 2009 Nobel Prize in economics for her research showing:
A. government provision of public goods is the most efficient solution to the tragedy of the commons problem. B. social norms can sometimes be powerful enough for commonly held property to be managed extremely well. C. that privatization of public goods is the most effective solution to market failure associated with commonly held property. D. social norms are not an effective solution for the management of commonly held property.