If a firm or a nation desires to maximize its output, each productive assignment should be carried out by those persons who
What will be an ideal response?
have a comparative advantage in the productive activity.
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Given the data in the table below, what is the short-run profit-maximizing level of output for the perfectly competitive firm?OutputTotal RevenueTotal Cost1$4$228331264161052015
A. 2 units B. 3 units C. 4 units D. 5 units
Intel is the world's largest semiconductor manufacturer and a major supplier of the microprocessors and memory chips found in most personal computers
During the recession of 2007-2009, Intel's revenues ________ and it ________ the size of its workforce. A) fell; decreased B) fell; increased C) rose; decreased D) rose; increased
According to the traditional (crowding-out) view, large budget deficits during normal times will lead to
a. bank failures in the future. b. a smaller capital stock in the future. c. lower interest rates in the future. d. a bankrupt government in the future.
Personal income is defined as
A) national income less retained earnings plus transfer payments and plus interest on government bonds. B) national income plus retained earnings less transfer payments and less interest on government bonds. C) national income less depreciation. D) national income less personal taxes.