The most desirable combination of output attainable with existing resources, technology, and social values is known as the
A. Efficient choice of production.
B. Efficient mix of output.
C. Attainable mix of output.
D. Optimal mix of output.
Answer: D
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The recognition lag for fiscal policy is ________ it is for monetary policy
A) generally longer than B) generally shorter than C) roughly the same as D) There is not a recognition lag for fiscal policy.
Refer to the table above. What is the marginal revenue of the monopolist when it sells 300 units of its product?
A) $1 B) $2 C) $3 D) $4
The smaller the MPS, the larger the multiplier.
Answer the following statement true (T) or false (F)
Refer to Scenario 3.2 below to answer the question(s) that follow.SCENARIO 3.2: Lettuce and spinach are substitutes. Lettuce and tomatoes are complements. Lettuce is a normal good. During the winter, about 20% of the lettuce crop was destroyed by flooding.Refer to Scenario 3.2. The floods that destroyed part of the lettuce crop would have caused
A. a decrease in the quantity of tomatoes demanded. B. an increase in the quantity of tomatoes demanded. C. a decrease in the demand for tomatoes. D. an increase in the demand for tomatoes.