The MRT is the quantity of some good that must be sacrificed to acquire one additional unit of another good. At any point, it is the slope of the feasible frontier.
Answer: marginal rate of transformation (MRT)
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The percentage of foreign-born people living in the U.S. continued to rise after the Civil War
Indicate whether the statement is true or false
If people in the U.S. choose to save a smaller percentage of income, what will happen to the interest rate, net capital outflow, the exchange rate, and net exports?
A U.S. company uses U.K. pounds it already owned to purchase bonds issued by a company in the U.K. Which of these countries has an increase in net capital outflow?
a. The U.S. and the U.K. b. The U.S. but not the U.K. c. The U.K. but not the U.S. d. Neither the U.S. nor the U.K.
Which of the following could be evidence of a market failure?
A) Resources in an economy are not fully utilized. B) The market price of a product is above the average cost of production. C) There are only a handful of firms competing against each other in an industry. D) Market prices do not reflect true production costs.