Technological advances that reduce pollution fall into which category of innovation?
A. Productivity-enhancing innovation
B. Pollution reduction does not fit into any of the categories of innovation
C. Quality-of-life innovation
D. Creation of new goods and services
Answer: C
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The relationship between the growth rate of an economic variable, gt, and its level, yt, can be approximated by
A) gt = yt - yt - 1. B) gt = logt - log yt - 1. C) yt = log gt - log gt - 1. D) log gt = yt - yt - 1.
The price system is sometimes criticized in that it
A. leads to greater efficiency. B. results in allowing the rich get a disproportionate say in what goods and services are produced. C. coordinates activities without the need for planning by government agencies. D. relies too heavily on input-output analysis.
Refer to the following graph. The price of capital (r) is $20.
At the optimal combination of inputs for producing 14,000 units of output, what is the marginal rate of technical substitution?
A. 0.80 B. 2.5 C. 1.5 D. 0.67 E. impossible to tell from the graph
Job analysis is typically conducted by _____.
A. experienced job incumbents B. HR specialist C. HR generalists and supervisors D. Supervisors and experienced workers