X-inefficiency implies:
a. the practice of using less than the optimal amount of inputs for production.
b. the practice of using the lowest quantity of input to produce maximum output.
c. always producing less than the optimal amount of output.
d. excessive use of inputs relative to best-practice methods.
D
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A liquid asset is
A) an asset that can easily and quickly be sold to raise cash. B) a share of an ocean resort. C) difficult to resell. D) always sold in an over-the-counter market.
Each of the following would decrease the demand for U.S. dollars, shifting the demand curve for dollars to the left, EXCEPT:
A. a decrease in real GDP abroad. B. a depreciation of foreign currencies relative to the U.S. dollar. C. a decreased preference for U.S.-made goods. D. a decrease in the real interest rate on U.S. assets.
The market for automobiles in China has experienced tremendous growth primarily because of
A. the invention of new products. B. relaxed emissions standards in China. C. rising incomes in China. D. higher wages of American workers.
An increase in the expected real interest rate tends to
A. raise desired saving, but lower desired investment. B. raise desired investment only. C. raise both desired saving and desired investment. D. raise desired saving only.