Which of the following is the best example of "how goods and services should be produced?"
A) complying with the technical specifications in the production of an aircraft
B) the production of jet aircraft for the air force or for a commercial airline
C) the use of additional workers versus the use of machines in the production of goods
D) the production of a new manufacturing facility
C
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Marginal profit is positive at all positive output levels.
Answer the following statement true (T) or false (F)
Wrongful employment discrimination:
a. occurs when employers make hiring, promotion, and pay decisions based on factors unrelated to worker productivity b. in competitive markets, puts the discriminating employer at a competitive disadvantage c. both of the above d. neither of the above
Suppose a currency's value in the foreign exchange market is determined solely by market supply and demand without any intervention by the government authority, the currency has
A) a fixed exchange rate. B) a gold standard. C) a price control in its exchange rate. D) a floating exchange rate.
Income earned by the factors of production is called
A. gross domestic income. B. disposable personal income. C. national income. D. personal income.