You and your friend work together for 4 hours to produce a total of 8 bookcases. What is productivity?
a. 16 bookcases
b. 8 bookcases
c. 2 bookcases per hour
d. 1 bookcase per hour
d
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What is the federal funds rate? What are the main determinants of the federal funds rate?
What will be an ideal response?
By selecting a bundle where MRS = MRT, the consumer is
A) achieving a corner solution. B) reaching the highest possible indifference curve she can afford. C) not behaving in an optimal way. D) All of the above.
A surplus tends to put ________ pressure on the price of the product, which ________ the quantity demanded
A) upward; increases B) upward; decreases C) downward; increases D) downward; decreases
As long as a consumer remains on the same indifference curve,
a. she is indifferent to all points that lie on any other indifference curve. b. her preferences will not affect the marginal rate of substitution. c. she is unable to decide which bundle of goods to choose. d. she is indifferent among the points on that curve.