Changes in both physical and human capital affect a nation's ability to produce goods and services
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Perfectly competitive firms produce up to the point where the price of the good equals the marginal cost of producing the last unit. This condition is referred to as
A) allocative efficiency. B) constant returns to scale. C) perfectly competitive efficiency. D) productive efficiency.
The cars produced by Toyota in its factory in Kentucky ________ in U.S. GDP and ________ in U.S. GNP
A) count, count B) count, do not count C) do not count, count D) do not count, do not count
The price to attend a NBA basketball game in Chicago is $55 while the CPI in Chicago is 153. The CPI in Charlotte is 108 while the price to attend a NBA basketball game is $52
Which city offers a smaller real cost of attending a NBA basketball game?
Exhibit 6-4 Total utility for multiplex tickets, video rentals, and popcorn Total Utilityfrom Multiplex Tickets Total Utilityfrom Video Rentals Total Utilityfrom Popcorn 1 movie (30 utils) 1 video (14 utils) 1 bag (8 utils) 2 movies (54 utils) 2 videos (24 utils) 2 bags (13 utils) 3 movies (72 utils) 3 videos (30 utils) 3 bags (15 utils) 4 movies (84 utils) 4 videos (32 utils) 4 bags (16 utils) In Exhibit 6-4, assume the Multiplex tickets cost $6 each, video rentals cost $2 each, and bags of popcorn cost $1 each. Suppose the consumer has $12 per week to spend on multiplex tickets, video rentals, and popcorn. In the consumer equilibrium, what is the marginal utility per dollar for each of the three goods?
A. 5 utils per dollar. B. 9 utils per dollar. C. 13 utils per dollar. D. 22 utils per dollar.