In one day Alpha Cabinet Company made 40 cabinets with 320 hours of labor. What was Alpha Cabinet Company's productivity?
a. 1/8 cabinet per hour
b. 8 hours per cabinet
c. 40 cabinets
d. None of the above is correct.
a
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What is always true at the quantity where a firm's average total cost equals average revenue?
A) The firm's profit is maximized. B) Marginal cost equals marginal revenue. C) The firm breaks even. D) The firm's revenue is maximized.
A variable which is independent of the level of income is
A) endogenous. B) exogenous. C) autonomous. D) irrelevant to any theory of income determination.
Monetary theorists maintain that to eliminate the business cycle, it is necessary to eliminate
a. money. b. currency. c. bank creation of check able deposits. d. bank reserves.
Gross output exceeds gross domestic product by
A. transfer payments between the governments and households. B. sales in underground or illegal markets. C. the total value of all used goods. D. the total value of business spending on intermediate inputs.