Economists try to address their subject with a scientist's objectivity
a. True
b. False
Indicate whether the statement is true or false
True
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Sandra's Sweaters' production function is shown in the above table. Sandra rents three knitting machines for $30 a day each and hires workers at a wage rate of $40 a day
If the rental rate of capital rises to $50 per machine a day, Sandra's ________ curve shifts upward. A) average variable cost B) total variable cost C) average fixed cost D) marginal cost
The primary source of funds for finance companies is ________
A) commercial paper B) deposits C) securities D) the central bank
Solving a moral hazard problem in a transaction would benefit
a. The seller only b. The buyer only c. Both the parties d. None of the parties
The marginal propensity to consume (MPC) is computed as the change in:
a. consumption divided by the change in savings. b. consumption divided by the change in income. c. consumption divided by the change in GDP. d. None of these.