A less advanced country can improve its productivity by:
a. repurposing
b. imitating
c. reusing
d. redeveloping
b
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"Final goods and services" are those that are
A) sold to ultimate or final purchasers. B) produced outside the United States. C) double counted in the calculation of GDP. D) used in the production of other goods and services.
Which of the following will lead to an outward shift in the firm's short-run demand for labor?
A) an increase in the price of output B) less capital per unit of labor C) a decline in labor productivity D) a reduction in average consumer income
Demand deposits are: a. accounts in which one cannot write a check directly but from which the individual can easily withdraw money. b. the coins and bills that circulate in an economy
c. purchased from a bank or financial company, signed, and then redeemed with an additional signature when one wants to spend them. d. deposits in banks that are available upon making a cash withdrawal or writing a check.
A firm will shut down if
a. P > AVC at all levels of output. b. P < AVC at all levels of output. c. AVC > AFC at all levels of output. d. TR > TC at all levels of output. e. P < TVC at all levels of output.