An increase in the quality of capital is a result of
A. embodied technical change.
B. population growth.
C. disembodied technical change.
D. an increase in the labor force.
Answer: A
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The government collects tax revenues of $100 million and has $105 million in outlays. The budget balance is a
A) deficit of $5 million. B) surplus of $5 million. C) surplus of $100 million and a deficit of $105 million. D) deficit of $105 million. E) surplus of $105 million.
Which is always TRUE at a firm's profit-maximizing rate of production?
A) Total Revenue = Total Costs B) The total revenue curve lies below the total cost curve. C) Marginal Revenue > Marginal Cost D) Marginal Revenue = Marginal Cost
Long-term contracts are generally preferable to:
A. short-term contracts. B. vertical integration. C. spot markets. D. None of the statements is correct.
If the quantity of pineapples demanded increases by 4% when the price of papayas increases by 16%, the cross-price elasticity of demand between pineapples and papayas is
A. -4. B. 0.25. C. 4. D. 64.