An isoquant
A) must be linear.
B) cannot have a negative slope.
C) is a curve that shows all the combinations of inputs that yield the same total output.
D) is a curve that shows the maximum total output as a function of the level of labor input.
E) is a curve that shows all possible output levels that can be produced at the same cost.
C
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M2 does not include
A) Treasury bonds. B) passbook savings accounts. C) small-denomination time deposits. D) M1.
Albro Martin and the text contend that the work of the Interstate Commerce Commission was largely for the benefit of _________
a. consumers b. the environment c. the federal government d. major shippers
Which is a screen against adverse selection
a. Insurance companies require homeowners to have smoke detectors b. Rearview cameras in cars c. Installing engine monitors to track driving habits of the insured d. Prospective secretaries must take a typing test before being hired
Suppose the people of Florencia spend $60 and save $40 for every $100 they earn. In this case, the marginal propensity to save equals _____
a. 0.2 b. 0.7 c. 0.4 d. 0.8