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

Economics

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Indicate whether the statement is true or false

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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?

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The actual budget deficit of the federal government in 2009 was about $1.4 trillion. On the basis of this information, it:

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Economics