All points on the production possibilities curve are:
a. unattainable. b. fair.
c. efficient. d. optimal.
c
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The introduction of new technologies to production is ________ source of productivity improvement.
A. the only B. the least important C. no longer a D. the most important
"By producing at an output rate at which marginal revenue equals marginal cost, a firm is definitely making positive economic profits." Do you agree or disagree? Why?
What will be an ideal response?
In terms of the best practices frontier, a long term strategy
A) shifts the frontier B) moves a firm along a frontier C) may cause a firm to move inside the frontier D) may rotate the frontier toward the horizontal axis
Those who view education as a sorting mechanism emphasize that employers value the
A. skills that people who attend college have already acquired before they enter college. B. docility and deference to authority learned in the classroom. C. analytic ability of the highly educated worker. D. work habits picked up in the home and school.