The slope of an isocost line ________ and equals the negative of ________
A) increases as we move down the line; the ratio of input prices
B) is constant; the ratio of input prices
C) is constant; the ratio of the marginal products
D) decreases as we move down the line; the ratio of the marginal products
B
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Private markets will lead to a ________ vaccination rate because:
A. suboptimally low; the external benefit of being vaccinated would not fully be taken into account by decision makers. B. suboptimally high; the external cost of being vaccinated would not fully be taken into account by decision makers. C. socially optimal; price serves as a signal of marginal benefit and marginal cost. D. inequitable; health care services should not be provided based on ability to pay.
One of the reasons the velocity of M1 has risen over the long-run is
A) increased economic uncertainty. B) growth in the money supply. C) new techniques of cash management by corporate treasurers. D) an increase in the demand for money.
According to the Cambridge approach to the quantity theory, people hold money:
a. to store their wealth. b. to make transactions. c. as a substitute for consumption. d. only when they have to.
When the supply of Swiss cheese decreases while the demand for Swiss cheese increases, the equilibrium ________ of Swiss cheese will definitely ________, ceteris paribus.
A. price; increase B. price; decrease C. quantity; increase D. quantity; decrease