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 A to Point B is
A. -2/3.
B. -1.5.
C. -3.
D. -30.
Answer: B
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The official decision in the U.S. as to whether and when a slowdown in the rate of economic growth has become a recession is made by the
A) Bureau of Economic Analysis in the Department of Commerce. B) Bureau of Labor Statistics. C) Federal Reserve Board of Governors. D) National Bureau of Economic Research, a private research organization.
Net exports equals _____
a. the value of exports minus the value of imports b. the value of imports minus the value of exports c. the value of imports minus tariffs d. the value of exports minus tariffs e. the value of exports plus the value of imports minus depreciation
Even though international trade is undertaken voluntarily, a country that engages in trade may not benefit from it.
Answer the following statement true (T) or false (F)
To eliminate an inflationary gap, Keynesian theory indicates that government should
A) increase taxes. B) decrease taxes. C) increase government purchases. D) decrease government purchases. E) either a or d