The slope of a production possibilities frontier measures:
A. the opportunity cost of producing one good in terms of the other good.
B. the trade-off in the consumptionof one good versus the other good
C. how much of the resources must be used in order to produce one the goods.
D. inefficient production of a good.
A. the opportunity cost of producing one good in terms of the other good.
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The annual percentage rate of change in the price level is the:
A. cost of living. B. inflation rate. C. relative price. D. Fisher effect.
Along the elastic range of a demand curve, a decrease in price causes:
a. no change in total revenue. b. a decrease in total revenue. c. an increase in total revenue. d. an unpredictable change in total revenue.
The _____ shows all of the combinations of risk and return that leaves an investor equally well off from holding either a low-risk or a high-risk investment
a. indifference curve b. expectation c. standard deviation d. correlation coefficient
The demand schedule for a good shows
a. the specific quantity of the good that people are willing and able to sell at different prices b. the positive relationship between the price and the quantity of the good c. no relationship between the price and the quantity of the good d. the specific quantity of the good that people are willing and able to buy at different prices e. the quantity of the good that is sold in the market