Which of the following is not an example of an economic trade-off that a firm has to face?
A) whether it is cheaper to produce with more machines or with more workers
B) whether it should produce more of its product
C) whether or not consumers will buy its products
D) whether it is to outsource the production of a good or service
C
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If the population growth rate is 2%, the incremental capital output ratio is 3, the saving ratio is 24% and the depreciation rate is 5%, the rate of growth of income per person is
(a) 1%. (b) 2%. (c) 3%. (d) 5%. (e) 8%.
During recessions employment typically
a. falls substantially. As the recession ends, employment rises rapidly. b. rises substantially. As the recession ends, employment declines gradually. c. falls substantially. As the recession ends, employment rises gradually. d. rises substantially. As the recession ends, employment declines rapidly.