The slope of an indifference curve is
a. the rate of change of consumer's preferences.
b. the marginal rate of preference.
c. the marginal rate of substitution.
d. always equal to the slope of the budget constraint.
c
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A) a rational, because it produces B) a rational, that happens to produce C) an irrational, because it produces D) an irrational, that happens to produce
What is the shape of the modern short-run aggregate supply (SRAS) curve? Why?
What will be an ideal response?
Game theory has an application in the analysis of:
a. an industry that has no barriers to entry b. an industry in which firms sell a homogeneous product. c. an industry in which firms are price takers. d. an industry that has a few large firms.
To be officially classified as unemployed, a person must be
A. at least 16, not working and actively seeking employment. B. collecting unemployment benefits. C. at least 21 and not working. D. laid off or fired.