The marginal rate of technical substitution (MRTS) along an isoquant:
A) is equal to the price ratio at all points along an isoquant.
B) is equal to the ratio of the marginal utilities of the two goods.
C) is equal to the ratio of the marginal products of the two inputs.
D) remains constant as we alter the combinations of the two inputs.
C
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From the Monetarist perspective, an autonomous downward shift in investment will
A) shift the aggregate demand curve to the left. B) shift the aggregate demand curve to the right. C) have little effect on the aggregate demand curve. D) cause a downward shift in the consumption function.
Unemployment in 1939, after a decade of recession and depression, still exceeded 10 percent
Indicate whether the statement is true or false
When sportspeople record the speed of a pitch in baseball, they refers to its velocity. It is measured in miles per hour. When economists record the speed of a dollar, they refer to the velocity of money. It measures the
a. number of times per year each dollar is used to transact an exchange b. rapidity of the dollar price of a good or the rate of inflation c. number of times the price level increases during a year d. time it takes a bank to convert a check into dollars e. number of times per year each good, valued in terms of dollars, is purchased during the year
market supply schedule
What will be an ideal response?