The slope of the budget constraint is determined by the
a. relative price of the goods measured on the axes.
b. relative price of the goods measured on the axes and the consumer's income.
c. endowment of productive resources.
d. preferences of the consumer.
a
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The signals in markets are determined
A) by supply and demand. B) for all goods by the government through the use of price controls. C) in an unfair manner that ends up hurting the poor. D) by nonprice rationing devices.
Which of the following is true for a constant cost industry? a. It uses a relatively large share of available resource inputs
b. It uses a relatively small share of available resource inputs. c. Industry expansion will put upward pressure on wages and/or other input prices. d. Both a. and c.
Suppose the saving rate is initially greater than the golden rule saving rate. We know with certainty that an increase in the saving rate will cause
A) an increase in the rate of growth in the long run. B) a reduction in output per worker. C) a reduction in consumption per worker. D) all of the above E) none of the above
A charter school is an independent _____ school with _____ financing
a. private; private b. public; public c. private; public d. public; private