If the maximum number of units of cloth produced is 300 and the maximum number of units of corn produced is 600, then with a MPLcloth = 2, what is the MPLcorn?

What is allocative efficiency?

A) It refers to a situation in which resources are allocated such that the last unit of output produced provides a marginal benefit to consumers equal to the marginal cost of producing it. B) It refers to a situation in which resources are allocated to their highest profit use. C) It refers to a situation in which resources are allocated such that goods can be produced at their lowest possible average cost. D) It refers to a situation in which resources are allocated fairly to all consumers in a society.

For an investment to be considered autonomous, it must

A) be negatively related to the interest rate. B) increase as the level of income increases. C) include fixed components. D) be independent of the level of real disposable income.