A factor of production that can be used in any sector of an economy is a(an)
A) mobile factor.
B) specific factor.
C) variable factor.
D) import-competing factor.
E) export-competing factor.
A
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As Sam moves rightward along his indifference curve, his marginal rate of substitution
A) is diminishing. B) is increasing. C) remains constant. D) shows the change in his income.
If two variables are directly related, the relationship will have a graph that:
A. Is a straight line B. May either be upward-sloping or downward-sloping C. Is an upward-sloping line D. Is horizontal
Which of the following is a final good or service?
A. A haircut purchased by a father for his 12 year-old son. B. Fertilizer purchased by a farm supplier. C. Diesel fuel bought for a delivery truck. D. Chevrolet windows purchased by a General Motors assembly plant.
The weaker economies in the European Union were forced to _____to be eligible to receive bailouts.
A. decrease spending and taxes B. increase spending and taxes C. decrease spending and increase taxes D. increase spending and cut taxes