Which of the following items would be considered scarce?
A) water
B) diamonds
C) potato chips
D) All of the above are scarce.
D
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A firm is producing a joint product, Product A and Product B, with variable proportions. At its current production levels, the marginal benefit of producing Product A is $4 and the marginal cost is $2 and the marginal benefit of producing Product B is $4 and the marginal cost is $6. To maximize profits, the managers of the firm should produce ________ of Product A and ________ of Product B.
A) more; less B) less; more C) less; less D) more; more
Which of the following statements about full employment is correct? I. Full employment means that the unemployment rate is less than 1/2 of 1 percent. II. Full employment means that the transaction costs associated with getting a job are zero
A) I only B) II only C) Both I and II D) Neither I nor II
If the money market is in the liquidity trap, it is operating in the __________ segment of the __________ demand curve
A) vertical; investment B) vertical; money C) horizontal; investment D) horizontal; money
Serendipity is often an export trigger for companies that purposefully look to internationalize their operations.
a. true b. false