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 A to Point B is
A. -2/3.
B. -1.5.
C. -3.
D. -30.
Answer: B
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If the sellers of a good are taxed for each unit sold, ________
A) the price that buyers need to pay falls B) a larger quantity of the good is sold C) the price that sellers receive increases D) a smaller quantity of the good is sold
If a country's income grows at the rate of 5 percent a year, it doubles in about
A) eight years. B) six and one-half years. C) ten years. D) fourteen and one-half years. E) twenty years.
Changes in reserve requirements directly and immediately affect
A) the monetary base. B) banks' holdings of securities. C) the Fed's holdings of foreign exchange. D) the money multiplier.
Suppose a lazy monopolist's fixed costs are higher than the fixed costs of an efficient monopolist. In all other respects the monopolists are the same. Which of the following statements about this lazy monopolist is true?
A. It produces less than does the monopolist producing efficiently. B. Its total profit is lower than that of the monopolist producing efficiently. C. Its total profit is the same as that of the monopolist producing efficiently. D. Its total revenue is less than that of the monopolist producing efficiently.