Technological efficiency, defined in terms of completely objective relationships,
A) has no useful meaning.
B) influences the decisions of engineers but not of business executives.
C) influences the decisions of engineers but not of economists.
D) is more important in the long run than in the short run, where profitability tends to dominate decisions.
A
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Which of the following observations would be valid if the Gini coefficient is equal to zero?
a. Perfect income inequality b. Greater degree of income inequality c. Lorenz curve overlaps the line of perfect income equality d. Unequal distribution of income
Which of the following contributed to the severity of the Great Depression?
a. the substantial budget surpluses run during the Hoover administration b. a sharp increase in tariff rates in 1930 c. the large reduction in tax rates under the Hoover administration d. a highly expansionary monetary policy followed by the Fed in the late 1920s and early 1930s
According to the above figure, if the firm is earning zero economic profits, what quantity is the firm selling and at what price?
A. Q = 1,200; P = $7 B. Q = 1,000; P = $5 C. Q = 800; P = $4 D. Q = 200; P = $4
In the private placement market the term "due diligence" means
A) an investor finding an honest agent from whom to buy a bond. B) a borrower finding an honest agent to sell its bonds. C) conducting a credit analysis of the borrower. D) an agent tailoring terms of the placement to meet investor needs.