Refer to the above figure. Which of the following points indicates an inefficient use of resources?
A) a
B) d
C) e
D) More information is needed to answer the question.
A
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Explain how each of the following events would affect the supply of loanable funds curve:
a. The economy is in a recession so people's disposable income is lower. b. The stock market is booming so people's wealth is higher. c. The future looks a bit more grim, so expected future income is lower. d. The real interest rate increases.
Productivity growth can be measured ________
A) by dividing output by Kt0.3 Lt0.7 B) by adding the contributions from capital growth and labor growth C) by subtracting the contributions from capital growth and labor growth from the growth of output D) by dividing the growth of output by the contributions from capital growth and labor growth
The Scarcity Principle applies to:
A. only market decisions, e.g., buying a car. B. only the poor. C. only non-market decisions, e.g., watching a sunset. D. all decisions.
If there are ten plants producing the total domestic consumption of the product and each plant is operating at minimum efficient scale, then each plant accounts for what percentage of domestic consumption?
A. 5 percent B. 10 percent C. 20 percent D. 25 percent