All of the following would increase the growth rate of the economy EXCEPT
A) raising the saving rate.
B) stimulating research and development.
C) discouraging international trade.
D) None of the above answers is correct because they all would increase the growth rate.
C
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If the slope of an indifference curve between two goods decreases as we move from left to right (dropping all minus signs), we infer that the consumer
a. is less willing to trade away a good when he has a lot of it. b. is more willing to trade away a good when he has a lot of it. c. always tries to keep the percentage of his budget spent on each good constant. d. views one of the goods as inferior.
The MFC can be calculated by the
A) change in total wages/change in labor. B) total wages/total labor. C) change in labor/change in total wages. D) total wages/change in labor.
Refer to the information provided in Figure 3.7 below to answer the following question(s).
?Figure 3.7Refer to Figure 3.7. A decrease in quantity demanded is represented by the movement
A. along D2 from Point B to Point C. B. from D2 to D1. C. along D2 from Point B to Point A. D. from D2 to D3.
Product differentiation occurs when
A. A completely new process is used to produce a familiar product. B. Buyers perceive differences in the products of several companies. C. One firm produces many varieties of a product. D. Sellers perceive differences in the products of several companies.