Refer to Figure 7-5. The efficient quantity of medical services is
A) 400. B) 800. C) 1,200. D) > 1,200.
B
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At the point at which the consumption function intersects the 45 degree reference line
A) planned real consumption of real disposable income equals zero. B) planned real saving equals real disposable income. C) planned real consumption equals real disposable income. D) equilibrium output is supply determined equilibrium output is determined by both.
An increase in autonomous spending is sure to reduce the real money supply when
A) the economy is in the liquidity trap. B) the IS curve is vertical. C) the economy is at full employment. D) velocity is constant.
If the price of a firm's product is $12 and the firm faces a constant marginal cost of $5 that is equal to its (constant) average total cost, the profit from selling a unit of the firm's product from its inventory is equal to ________.
A) $5 B) $7 C) $8 D) $15
Use the information provided in Table 7.4 below to answer the question(s) that follow. Table 7.4Inputs Required to Produce a Product Using Alternative TechnologiesTechnologyUnits of CapitalNumber of EmployeesA 836B 1224C 1616D 24 12Refer to Table 7.4. Which technology is the most capital intensive?
A. A B. B C. C D. D