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 the marginal cost curve is below the average variable cost curve, then
A) average variable cost is increasing. B) marginal cost must be decreasing. C) average variable cost could either be increasing or decreasing. D) average variable cost is decreasing.
In the New Keynesian open economy model with a flexible exchange rate, an increase in anticipate future total factor productivity
A) has no effects. B) increases aggregate output. C) reduces aggregate consumption. D) causes an exchange rate appreciation.
When foreigners come to the United States as tourists, they are generating a
A. Supply of U.S. dollars and a supply of a foreign currency. B. Supply of U.S. dollars and a demand for a foreign currency. C. Demand for U.S. dollars and a demand for a foreign currency. D. Demand for U.S. dollars and a supply of a foreign currency.
Which statement is true?
A. Most strikes cause serious economic disruptions. B. The threat of a strike provides the motivation necessary to make collective bargaining work. C. Most labor unions enter collective bargaining hoping for a strike. D. None of the choices are true.