The value of the slope of a society's production possibility frontier is called its
A. unemployment rate.
B. marginal rate of substitution.
C. inflation rate.
D. marginal rate of transformation.
Answer: D
You might also like to view...
A change in the capital stock ________ the short-run aggregate supply curve and ________ the long-run aggregate supply curve
A) shifts; shifts B) shifts; does not shift C) does not shift; shifts D) does not shift; does not shift
The opportunity cost of providing a public good to an additional individual is
A) infinite. B) zero. C) impossible to determine. D) high because of the exclusion principle.
Assuming transaction costs are small, the Coase theorem would predict that private parties could arrive at an efficient solution for which of the following problems?
a. One neighbor doesn't mow his lawn. b. One neighbor doesn't paint her house. c. One neighbor comes home on his noisy motorcycle late at night. d. All of the above are correct.
Economists first began studying the relationship between changes in aggregate expenditures and changes in GDP during
What will be an ideal response?