The figure above shows Sally's budget line and one of her indifference curves. At point a, Sally's marginal rate of substitution is ________
A) 1/4
B) 4
C) 10
D) 40
A
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How can incomes become more unequally distributed within countries and less unequally distributed across countries?
What will be an ideal response?
In recent years unemployment rates in several European countries have been higher than unemployment rates in the United States. Many economists believe that European unemployment rates have been higher because
A) European firms hire many seasonal workers from other countries, and this tends to inflate unemployment rates in their countries. B) of the different methods used to measure unemployment. If similar methods were used, unemployment rates in Europe and the United States would be about the same. C) the size of the military is much larger in the United States and all military personnel are classified as employed. D) unemployment benefits are more generous in Europe than in the United States.
Recall the Application about the benefits generated when one country gathers information on global weather to answer the following question(s).Recall the Application. Weather monitoring is:
A. a public good. B. a private good. C. impossible because it requires international cooperation. D. efficiently provided by private markets because it is profitable.
Identifying the effect of an increase in the money supply on prices requires the use of:
A. subjective economics. B. the art of economics. C. positive economics. D. normative economics.