The marginal rate of substitution is
A. the slope of the utility curve.
B. the slope of the contract curve.
C. the slope of the utility possibilities curve.
D. none of these answer options are correct.
A. the slope of the utility curve.
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If good weather conditions result in a larger than normal crop of peaches, then the
A) equilibrium price of peaches rises, and the equilibrium quantity of peaches increases. B) equilibrium price of peaches falls, and the equilibrium quantity of peaches increases. C) demand curve for peaches shifts leftward. D) increase in the supply of peaches induces a greater demand for peaches, so that the equilibrium price rises and the equilibrium quantity increases. E) equilibrium price of peaches falls, and the equilibrium quantity of peaches decreases.
Refer to Scenario 21-1. Based on the information above, what is the level of private saving in the economy?
A) $3 trillion B) $4 trillion C) $5 trillion D) $8 trillion
Which of the following is the most unstable category of GDP?
a. consumption b. investment c. government purchases d. net exports
Concerts in arenas are not excludable because it is virtually impossible to prevent someone from seeing the show
a. True b. False Indicate whether the statement is true or false