When indifference curves are bowed inward, the marginal rate of substitution is
a. the same at all points along an indifference curve.
b. increasing as the consumer moves to the right along an indifference curve.
c. decreasing as the consumer moves to the right along an indifference curve.
d. constant.
c
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The equation for determining real GDP for year X is:
A. 
B. 
C. 
D. 
For superstar athletes
A) their entire earnings are economic rent. B) part of their earnings are economic rent. C) none of their earnings are economic rent since rent doesn't apply to labor. D) none of their earnings are economic rent since they will do some other work once they are too old to be an athlete.
Positive economic statements
A) prescribe what should be. B) are related only to microeconomics. C) can be tested against the facts. D) cannot be tested against the facts.
Modern banks in the United States can keep reserves as:
A. commodity money only. B. a deposit at the Federal Reserve. C. gold. D. in accounts with other banks.