Refer to the above table. How many units of resource Y would the firm employ at a price of $50 per unit of Y?
A. 2
B. 3
C. 4
D. 5
B. 3
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Which of the following is NOT considered one of the factors of production?
A) land B) labor C) capital D) technology E) entrepreneurship
If you were a Keynesian and wanted to stimulate the economy (to increase real GDP), you would
a. increase the money supply to lower the interest rate in order to increase investment b. increase the money supply to lower the interest rate in order to decrease investment c. decrease the money supply to lower the interest rate in order to increase investment d. decrease the money supply, which causes consumption to increase and saving to fall e. increase the money supply, which causes the interest rate to increase and production to increase as well
If the wagerental ratio in Japanese auto production is lower than the wagerental ratio in U.S. auto production, then:
a. Japan must have a comparative advantage in the production of autos. b. Japan must have an absolute advantage in the production of autos. c. auto production costs must be lower in Japan than in the United States. d. auto production costs could be lower in the United States if U.S. labor productivity is higher than Japanese labor productivity.
Suppose bank A has assets of 100, liabilities of 60, and capital of 40. Its capital ratio is
A) 40%. B) 66%. C) 25%. D) 60%.