The slope of the indifference curve is referred to as
A) the price ratio. B) the marginal tradeoff rate.
C) the marginal rate of consumption. D) the marginal rate of substitution.
D
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Can nominal GDP ever be less than real GDP?
What will be an ideal response?
International dependence theories distinguish between two groups of countries known as
a. rich-poor. b. developed-developing. c. center-periphery. d. independent-dependent.
Jerry sells cherry sno-cones along the boardwalk in New Jersey. During the summer this is a perfectly competitive business, and Jerry faces a perfectly elastic demand curve. If he wants to try to increase revenues he should
A. raise the price of his sno-cones to make more per sale. B. lower the price of his sno-cones to try to sell more. C. do nothing; there is nothing he can do to increase revenue. D. keep the price the same but produce more to increase sales.
Refer to the information provided in Table 21.8 below to answer the question(s) that follow. Table 21.8
Refer to Table 21.8. The value for national income in billions of dollars is
A. 970. B. 1,030. C. 1,060. D. 1,200.