Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3.
B. -1.5.
C. -3.
D. -30.
Answer: B
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Which of the following is a relevant cost?
A) replacement cost B) sunk cost C) historical cost D) fixed cost E) All of the above are relevant.
A management professor discovers a way for corporate management to operate more efficiently. He publishes his findings in a journal. His findings are
a. proprietary and common knowledge. b. common, but not proprietary, knowledge. c. proprietary, but not common, knowledge. d. neither proprietary nor common knowledge.
A family's income tax liability is
a. a standard percentage of all income earned. b. determined by wage income rather than dividend and interest income. c. based on total income. d. constant from year to year.
Which of the following policies would reduce frictional unemployment?
A) a decrease in the minimum wage B) a job retraining program C) implementing an unemployment insurance policy D) building an online job database that helps workers find jobs