Which one factor below does not influence how a resource should be allocated over time to maximize economic efficiency?
a. Guaranteeing sufficient supplies for future users
b. The discount rate
c. The future marginal net benefit curve
d. The current marginal net benefit curve
e. The supply of the resource
Answer: a. Guaranteeing sufficient supplies for future users
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Which one of the following is a key to economic development?
A) an educated population B) the removal of property rights C) the preservation of established means of production D) a high level of protection against imported products
According to this Application, international statistics show that the developing countries are ________ and the developed countries are ________
A) creditors; creditors B) creditors; debtors C) debtors; debtors D) debtors; creditors
Refer to the scenario above. If Aqua Inc charges a price of $70 for each unit of Good A while Blu Corp . charges a price of $50, Blu Corp . will face a demand of ________ units
A) 1,000 B) 1,500 C) 2,000 D) 3,000
The flaw of the Real Business Cycle model is that it
A) assumes away output fluctuations. B) assumes complete wage rigidity. C) assumes unrealistic fooling of workers. D) requires procyclical wage movements and continuous labor market equilibrium.