The negative of the slope of the isoquant indicates the ___________________________
Fill in the blank(s) with the appropriate word(s).
Answer: Marginal Rate of Technical Substitution
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Refer to the scenario above. If each bidder uses his dominant strategy, who will win the auction?
A) John B) Jacob C) Alex D) Maria
A natural oligopoly can form
A) if there are economies of scale. B) only if firms sell a differentiated good. C) only if firms sell a homogeneous good. D) if there is only one firm in the industry.
A higher return on saving ______ the amount a household needs to save to achieve any target level of future consumption. This effect on saving is called the _______ effect. If the income effect is large enough, then a reduction in taxes on saving might ______ tax revenues
Fill in the blank(s) with correct word
(Exhibit: IS-LM Fiscal Policy) Based on the graph, starting from equilibrium at interest rate r1 and income Y1, a tax cut would generate the new equilibrium combination of interest rate and income:
What will be an ideal response?