Using the above figure, the efficient amount of paper produced is
A) 60 million tons.
B) 80 million tons.
C) 100 million tons.
D) 120 million tons.
A
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The main argument in favor of Fed independence is that
A) interest rates would probably be lower if Congress controlled the Fed; thus hurting savers. B) the Constitution requires it. C) monetary policy is too important and too technical to be determined in the political arena. D) congressional control of the Fed was tried during the 1960s and did not work well.
If labor in Mexico is less productive than labor in the United States in all areas of production,
a. then neither nation can benefit from trade. b. then Mexico can benefit from trade but the United States cannot. c. then the United States will have a comparative advantage relative to Mexico in the production of all goods. d. then both Mexico and the United States still can benefit from trade.
A firm can maximize profit (net benefit) by choosing to produce that level of output at which
A. the additional revenue from the last unit sold equals the additional cost of that unit. B. the additional revenue from the last unit sold is just a little more than the additional cost of that unit. C. the difference between the additional revenue from the last unit sold and the additional cost of that unit is maximized. D. total revenue equals total cost.
The Beck Depression Inventory-II has a reliability coefficient (coefficient alpha) of .92. Using classical test theory, interpret the meaning of this reliability coefficient.
a. The amount of error variance to observed variance is 92% b. The amount of true variance to observed variance is 92% c. The instrument has good enough reliability d. The instrument's validity coefficient would be .922 (or .92 squared)