An isocost line shows
A) combinations of the two inputs that result in the same profit for a firm.
B) the different levels of total cost that result from various combinations of two inputs.
C) combinations of two inputs that result in the same total cost for a firm.
D) combinations of two inputs that result in the same total output for a firm.
C
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During the 2000-2009 decade,
a. the economic freedom rating of the United States fell, but the growth rate of real GDP was more rapid than in recent decades. b. the economic freedom rating of the United States increased and the growth of real GDP was more rapid than that of recent decades. c. the economic freedom rating of the United States fell and the growth of real GDP was less rapid than that of recent decades. d. the economic freedom rating of the United States increased but the growth of real GDP was less rapid than that of recent decades.
Which of the following is likely to push the federal debt increasingly higher in the coming decades?
a. a strong rebound from the recession of 2008-2009 b. increased expenditures on the Social Security and Medicare programs c. an increase in tax revenues as the baby boom generation retires d. increased political pressure to balance federal budgets
The predictive accuracy of relative purchasing power parity improves if:
a. Both countries have highly mobile capital markets. b. Both countries have central bank controls in place so that exchange rates change in an orderly manner. c. Both countries under consideration have very high inflation rates. d. Both countries under consideration have high growth rates. e. Both countries are either developed or undeveloped (i.e., one is not developed and the other undeveloped).
A reflationary (expansionist) fiscal policy could include:
a) Lower interest rates b) Increased lending by the banks c) An increase in corporation tax d) An increase in discretionary government spending