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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When examining the causes of unemployment, Keynes focused on
A) financial markets. B) inflationary expectations. C) changes in technology. D) aggregate demand.
Institutions that make loans to borrowers and obtain funds from savers are called
A) financial markets. B) financial intermediaries. C) financial conglomerates. D) financial branches.
Assume that in the economy real GDP grows at a constant rate. There has just been a decrease in the rate of growth of the population. This implies that the
A) rate of growth of per capita real GDP will decrease. B) rate of growth of per capita real GDP will increase. C) rate of growth of capital accumulation will decrease. D) rate of growth of capital accumulation will increase.
Scarcity would cease to exist as an economic problem if: a. we learned to cooperate and not compete with each other
b. there were new discoveries of an abundance of natural resources. c. output per worker increased. d. none of the above.