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 B to Point A is
A. -2/3.
B. -3/4.
C. -1.5.
D. -20.
Answer: A
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The Heckscher-Ohlin, factor-proportions model lends support to the argument that
A) trade tends to worsen the conditions of unskilled labor in rich countries. B) trade tends to worsen the conditions of owners of capital in rich countries. C) trade tends to worsen the conditions of workers in poor countries. D) trade tends to worsen the conditions of workers in rich countries. E) trade tends to worsen the conditions of highly skilled workers in rich countries.
Comparing the California test scores to test scores in Massachusetts is appropriate for external validity if
A) Massachusetts also allowed beach walking to be an appropriate P.E. activity. B) the two income distributions were very similar. C) the student-to-teacher ratio did not differ by more than five on average. D) the institutional settings in California and Massachusetts, such as organization in classroom instruction and curriculum, were similar in the two states.
If people buy more than has been produced,
A) the economy is in equilibrium. B) total expenditures are greater than total production. C) there will be an increase in inventory. D) there will be a decrease in total output.
Suppose a country decreases government purchases by $400 billion. Suppose the government spending multiplier is 1.5 and the economy's real GDP is $8,000 billion. This contractionary policy action shifts the aggregate demand curve to the left by
A) $12,000 billion. B) $600 billion. C) $533.3 billion. D) $266.6 billion.