Refer to the above figure. Given the indifference map and budget constraint represented above, what are all possible points at which that the individual can consume?
A. points A and C only
B. point B only
C. point D only
D. points A, B and C only
Answer: D
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The table above shows three production methods to produce 100 automobiles per day. If the price of labor is $20 per unit and the price of capital is $100 per unit, which of the three methods is economically efficient?
A) Method A only B) Method B only C) Method C only D) All three methods are economically efficient.
All economic activities in the economy are included in the GDP.
Answer the following statement true (T) or false (F)
The interest rate the Fed charges commercial banks for borrowing funds is the
A. discount rate. B. prime rate. C. open market rate. D. federal funds rate.
Refer to the data. The average total cost of five units of output is:
A. $69.
B. $78.
C. $3.
D. $10.