Which of the following correctly expresses the relationship between the marginal utilities of two goods and marginal rate of substitution between the goods?
A. MRSXY = (MUY/MUX)
B. MRSXY = (MUX/MUY)
C. MRSXY = (U/?X)
D. MRSXY = (U/?Y)
B. MRSXY = (MUX/MUY)
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The slope of the aggregate supply curve increases as output increases because
a. the cost of resource-use increases as potential is reached. b. consumers are willing to pay more as output expands. c. firms substitute capital for labor as prices increase. d. firms substitute capital for labor as capacity is reached.
The subprime mortgage and global financial crisis of September 2008, resulted in mergers of big banks with healthier banks
Indicate whether the statement is true or false
________: reflects what a $1 today would have purchased in goods and services in a particular base period
Fill in the blank(s) with correct word
Refer to the scenario above. If both economies have the same depreciation rate, then which of the following statements will be true?
A) Economy A will have a greater capital stock and a lower GDP than economy B. B) Economy A will have a greater capital stock and GDP than economy B. C) Economy A will have a lower capital stock and GDP than economy B. D) Economy A will have a lower capital stock and a greater GDP than economy B.