A function that indicates the maximum output per unit of time that a firm can produce, for every combination of inputs with a given technology, is called
A) an isoquant.
B) a production possibility curve.
C) a production function.
D) an isocost function.
C
You might also like to view...
In the figure above, a movement from point A to point C can be the result of
A) an increase in the government budget deficit. B) a decrease in expected profit. C) a rise in the real interest rate. D) an increase in expected profit. E) a fall in the real interest rate.
If a wealthy woman marries her butler, quits paying him and does not hire a new butler, then
A) GDP definitely decreases. B) GDP definitely does not change. C) GDP definitely increases. D) GDP either does not change or increases. E) There is not enough information given to reach a conclusion.
The interest rate that banks charge on loans to their best customers is called the:
A) federal funds rate. B) discount rate. C) mortgage interest rate. D) prime rate.
According to the interest parity condition, if the domestic interest rate is 10 percent and the foreign interest rate is 12 percent, then the expected ________ of the foreign currency must be ________ percent
A) appreciation; 4 B) appreciation; 2 C) depreciation; 2 D) depreciation; 4