The opportunity cost of holding money increases when:
a. the interest rate rises
b. the interest rate falls.
c. the price level falls.
d. nominal GDP rises.
e. nominal GDP falls.
a
Economics
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Suppose the production of mp3 players can be represented by the following production function: q = L0.4K0.4. The firm currently produces q1 units. If all inputs doubled, the new level of output will equal
A) 20.4 q1. B) 20.8 q1. C) 0.8 q1. D) 1.6 q1.
Economics
According to the book, individuals and families have unique management styles or characteristic ways of making decisions and acting, which of the following is not one of the main factors influencing management styles:
a. History b. Biology c. Culture d. Politics
Economics