Fill in the blank: When a chooser asks herself "Is it worth it?," she is trying to evaluate the ________ of a particular project or plan of action
A) technical efficiency
B) objective efficiency
C) economic efficiency
D) engineering efficiency
C
You might also like to view...
Mark has a two-year wage contract with his employer. Mark's wage contract specifies a $50,000 salary for the first year, and specifies a salary increase equal to the percentage increase in the CPI during the second year
The percentage increase in the CPI during the year was 4.0 percentage points. If the CPI overstates inflation by 1.0 percentage point, at the end of the first year Mark's salary increased by ________ more than it would have without the upward bias. A) $500 B) $50 C) $3000 D) $1500 E) $2000
Which of the following long-term bonds has the highest interest rate?
A) corporate Baa bonds B) U.S. Treasury bonds C) corporate Aaa bonds D) municipal bonds
When a good is more broadly defined (for example, Starbucks Caramel Macchiato versus coffee),
a. it will have more available substitutes so demand will be more elastic. b. it will have more available substitutes so demand will be less elastic. c. it will have fewer available substitutes so demand will be more elastic. d. it will have fewer available substitutes so demand will be less elastic.
Explain what is meant by “derived demand” as it relates to factors of production.
What will be an ideal response?