If the utility function (U) between bananas (B) and jam (J) can be represented as U(B,J) = 3ln(B)+4ln(J), what is the marginal rate of substitution (MRS) between bananas and jam?
A) 4B.
B) -3J/(4B).
C) 4/(3J).
D) 3B/J.
B
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The industry that produces zangs is in long-run equilibrium. Then the demand for zangs increases permanently. As a result, firms in the industry will ________. Some firms will ________ the industry, and the industry supply curve will shift ________
A) make economic an profit; enter; rightward B) make zero economic profit; exit; leftward C) incur economic losses; exit; rightward D) incur economic losses; exit; leftward
If autonomous consumption decreases, which of the following combinations of events would be most likely to occur?
a. An upward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a leftward shift of the aggregate demand curve b. A downward shift of the aggregate expenditure line, a leftward shift of the money demand curve, and a leftward shift of the aggregate demand curve c. A downward shift of the aggregate expenditure line, a leftward shift of the money demand curve, and a rightward shift of the aggregate demand curve d. A downward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a rightward shift of the aggregate demand curve e. An upward shift of the aggregate expenditure line, a rightward shift of the money demand curve, and a rightward shift of the aggregate demand curve.
Suppose that the inflation rate turns out to be much higher than most people expected. In that case,
What will be an ideal response?
To evaluate relative changes in the net public debt, we must
A) look at the absolute amount owed by the government. B) compare it to the nation's real GDP. C) look at the annual percentage change in the public debt. D) compare it to the debts of all developed countries.