The slope of the indifference curve is equal to the
A. Income of the consumer.
B. Slope of the demand curve.
C. Ratio of the price of one good to the price of the other good.
D. Marginal rate of substitution.
Answer: D
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The fishing and whaling occupations in the early colonies:
a. never amounted to a significant economic force. b. were a major influence in the early colonial economy. c. started only in the eighteenth century. d. were mixed in their economic impact, with fishing being the least important and whaling being most important.
Government may make it possible
A) to create a network externality. B) to find 'winners' in the stock market. C) for a firm to become a monopoly. D) all of these choices.
Because of a recession in Japan, net exports from the United States decrease by $10 billion. If the MPC is 0.75, how much less spending will occur in the U.S. economy in the second "round" of spending?
a. $17.5 billion b. $10 billion c. $7.5 billion d. $5.0 billion
Which of the following does not contribute to an increase in productivity?
A. Research and development. B. Income transfers. C. Capital investment. D. Improvements in the quality of labor.