The ____ is the absolute value of the slope of an indifference curve
a. marginal rate of substitution
b. average rate of transitivity
c. relative rate of utility
d. marginal rate of transposition
a
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Which two things happened more or less simultaneously to bring an end to the era of low productivity growth that lasted from 1973 to 1995?
A. The information revolution and a great expansion of globalization B. The information revolution and the creation of the Environmental Protection Agency C. The entry of the baby boom generation into the workforce and the creation of the Environmental Protection Agency D. The entry of the baby boom generation into the workforce and a great expansion of globalization
Which of the following factors will lead to a shift in the demand curve?
A. changes in the price of the good B. changes in consumers' tastes and preferences C. changes in technology D. changes in the costs of inputs
The aggregate supply curve in the classical model is
A. horizontal. B. upward sloping. C. downward sloping. D. vertical.
For any year beyond the base year, nominal GDP must be greater than real GDP.
Answer the following statement true (T) or false (F)