Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3.
B. -3/4.
C. -1.5.
D. -20.
Answer: A
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If a tariff is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. total surplus from shrimp will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
A demand curves describes
a. the amount of units a consumer will purchase at a given price b. the amount of units a producer will sell at a given price c. both the amount of units that a consumer will buy and a producer will produce at a given price d. the amount of units supplied given a change in prices
Which of the following would most likely occur if the federal government increased its spending and enlarged the size of the budget deficit during a period of full employment?
a. The rate of inflation would decline. b. The r ate of inflation would rise. c. A recession would develop. d. Interest rates would fall.
The U.S. dollar exchange rate is determined by the:
a. World Bank. b. Federal Reserve. c. Forces of supply and demand. d. International Monetary Fund. e. U.S. government.