Dr. Goldfinger decides to invest in companies which he believes can "improve the productivity and efficiency" of health care services. How can Dr. Goldfinger strive to achieve this productive efficiency?
A) by investing in companies that produce goods and services based on consumer preferences
B) by investing in companies that produce goods and services at the lowest possible cost
C) by investing in companies that fairly distribute their products and services
D) by investing in companies that produce up to the point where the marginal benefit of the last unit produced is equal to the marginal cost of producing it
Answer: B
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Refer to Figure 27-1. Suppose the economy is in short-run equilibrium below potential GDP and no fiscal or monetary policy is pursued. Using the static AD-AS model in the figure above, this would be depicted as a movement from
A) A to E. B) C to B. C) B to C. D) B to A. E) A to B.
Isoquant lines represent ________ whereas isocost lines represent ________
A) technical efficiency; economic efficiency B) economic efficiency; technical efficiency C) economic efficiency; marginal costs D) input tradeoffs; economic tradeoffs
A rules-based monetary policy
A) is advocated by activists. B) is advocated by nonactivists. C) could involve a predetermined steady growth rate in the money supply. D) b and c E) all of the above
The transactions demand for money
A. varies inversely with nominal Gross Domestic Product (GDP). B. varies directly with nominal Gross Domestic Product (GDP). C. varies negatively with nominal Gross Domestic Product (GDP). D. is unrelated to nominal Gross Domestic Product (GDP).