A firm that is technologically efficient
A) must be economically efficient, but a firm that is economically efficient is not always technologically efficient.
B) must be economically efficient, and a firm that is economically efficient must always be technologically efficient.
C) is not always economically efficient, and a firm that is economically efficient is not always technologically efficient.
D) is not always economically efficient, but a firm that is economically efficient must always be technologically efficient.
D
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When Okun's "misery index" is used to judge macroeconomic conditions, inflation is being considered
A) not to be a macroeconomic problem at all. B) a less serious macroeconomic problem than unemployment. C) just as serious a macroeconomic problem as unemployment. D) a more serious macroeconomic problem than unemployment.
During the third quarter of this year a firm produces consumer goods and adds some of those goods to its inventory. During the fourth quarter of this year, the firm sells the goods at a retail outlet, with the result that the value of its inventory at the end of the fourth quarter is smaller than the value of its inventory at the end of the third quarter. These actions affect which component(s)
of fourth-quarter GDP? a. they increase consumption and have no affect on investment b. they increase consumption and decrease investment c. they have no affect on either consumption or investment d. they have no affect on consumption and decrease investment