In one-input models, all technologically efficient production plans are economically efficient and vice versa.
Answer the following statement true (T) or false (F)
True
Rationale: In one-input models, there is only one way of producing a given level of output without wasting inputs. This is technologically efficient -- and it is also economically efficient.
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A rightward shift of the investment demand curve could be caused by:
a. a technological advance. b. optimism about long-term growth. c. forecasts of favorable business conditions. d. an increase in confidence in short-run economic conditions. e. any of these.
In 1990, the GDP of Canada was $680 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 85 U.S. cents. In 2000, the GDP of Canada was $1000 billion as measured in Canadian dollars, and the exchange rate was that $1 Canadian was worth 69 U.S. cents. By what percentage did the GDP of Canada increase from 1990 to 2000 in Canadian dollars?
a. 19.4% b. 47% c. 68% d. 147%
Suppose the current market wage rate (w) is $4. In the short run, a firm's marginal cost at the current output level is $2. What is this firm's marginal product of labor?
A) MPL = 0.5 B) MPL = 1 C) MPL = 2 D) MPL = 8
Net interest income for a bank is:
A. the difference between interest income and total expenses. B. the difference between gross income and net income after taxes. C. the difference between interest income and interest expense. D. the interest banks earn from uses of funds.