Production functions indicate the relationship between
A) factor costs and output prices.
B) factor inputs and the quantity of output.
C) the value of inputs and average costs.
D) factor inputs and factor prices.
Answer: B
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A crawling peg is an exchange rate arrangement in which the rate is adjusted in small amounts at fixed, preannounced rates
Indicate whether the statement is true or false
Consider two projects. The first project pays benefits of $90 today and nothing else. The second project pays nothing today, nothing one year from now, but $100 two years from now. Which project would be preferred if the discount rate were 0%? What if the rate increased to 10%?
What will be an ideal response?
It is common knowledge that many U.S. national parks have become overused. One possible solution to this problem is to
a. increase entrance fees. b. decrease camping permit fees. c. require all visitors to register upon entering the park. d. sell the land that the parks currently occupy.
The actual budget deficit of the federal government in 2009 was about $1.4 trillion. On the basis of this information, it:
A. can be concluded that the economy was faced with serious inflation in 2009. B. cannot be determined whether the government engaged in expansionary or contractionary fiscal policy in 2009. C. can be concluded that fiscal policy was contractionary in 2009. D. can be concluded that fiscal policy was expansionary in 2009.