Car A gets 12 miles per gallon. Car B gets 30 miles per gallon. Which is the most economically efficient car?
A) Car A
B) Car B
C) They are equal in their economic efficiency.
D) It is impossible to determine without more information.
D
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In the classical model, real Gross Domestic Product (GDP) per year is
A) determined by supply and demand conditions together. B) supply determined. C) demand determined. D) due to supply conditions plus the extent of government intervention in the economy.
The value of bonds outstanding
A) increases when the government runs a budget deficit and decreases when the government runs a budget surplus. B) decreases when the government runs a budget deficit and increases when the government runs a budget surplus. C) is independent of the government running either a budget deficit or a budget surplus. D) changes only when the government runs a budget deficit or surplus if the federal debt is zero.
If there are 40 firms in a monopolistic competitive industry, the oldest (or first) firm will have ___________ market share to qualify as the oldest (or first) firm
a. no less than 50 percent b. no less than 10 percent c. no more than 5 percent d. no more than 1 percent e. there is no specific percentage
If a worker is indifferent between a job with a wage of $10 per hour and a job with a wage of $12 per hour, then the
a. higher-paying job has a compensating wage differential of $2 per hour. b. higher-paying job has a compensating wage differential of $12 per hour. c. higher-paying job is intrinsically more attractive than the lower-paying job. d. wage in the higher-paying job must eventually fall due to competition.