What is the marginal rate of substitution?
A) the rate at which the consumer is willing to trade one good for another without any loss in utility
B) the rate at which the consumer is willing to trade one good for another so that she increases her utility
C) the price ratio
D) the rate at which the consumer must give up one good to purchase an additional unit of the other goods in the market
A
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Which of the following is the least tangible?
a. Social capital b. Physical capital c. Human capital d. All of these choices
Juliana, Gabrielle, and Marcela want to start a business they are the only owners and the company does not issue stock. The type of business they want to start is a
A) partnership. B) corporation. C) sole proprietorship. D) Any of the above could be correct.
Positive analysis:
A. examines if the outcome is desirable. B. involves the formulation and testing of hypotheses. C. involves value judgments concerning the desirability of alternative outcomes. D. weighs the fairness of a policy.
Which one of the following people would be counted as unemployed in Canada?
A) a person who has been seeking a job for the last six months, but recently gave up looking because he was discouraged by his job prospects B) a person who will be starting a new job in 6 months C) a person who has been laid off for 10 weeks and is not looking for a job because he is waiting to be called back to his old job D) a person who expects to be laid off by the end of the month before next month's survey can be completed E) a part-time worker who repeatedly expresses a desire to become a full -time worker