Marginal rate of substitution of good X for good Y equals the ratio of marginal utility of X divided by marginal utility of Y.
a. true
b. false
a. true
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Equities is to ________ as bond is to ________
A) ownership; debt B) fairness; constraint C) stock; asset D) banks; exchanges
The slope of the money demand curve is...
What will be an ideal response?
Which of the following is a likely impact of international migration?
A. The country from which workers migrate out to other countries gains welfare as long as remittances are small. B. The workers remaining in the country after emigration lose welfare. C. The receiving country as a whole gains. D. The native workers in the receiving country gain welfare.
How does the imposition of a tariff reduce the price of imports?
A. At the lower quantity supplied, the price to the importer is lower than if there were free trade. B. At the lower quantity demanded, the price to the importer is lower than if there were free trade. C. Supply of the product is increased from domestic production, reducing the price of the imports. D. Demand for the product is decreased, so that price must fall.