In the long run, ________ differences in economic growth rates result in ________ differences in GDP per capita
A) small; no B) small; large C) large; no D) large; small
B
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Refer to Figure 10-4. What is the marginal rate of substitution for one bar of chocolate between h and j?
A) of a cookie. B) of a cookie. C) 2 cookies. D) 4 cookies.
Which of the following government programs are likely to aid the poor more than those in upper income brackets?
a. subsidies to museums b. state-subsidized higher education benefits c. school lunch programs d. government subsidies to airports
A successful cartel may end up charging the ____ price and obtaining ____ profits
a. monopolistic competition; zero economic b. oligopoly; monopoly c. monopoly; zero economic d. monopoly; monopoly
The price of good X is $5 and the price of good Y is $15. If the marginal utility of good X is 20 then the marginal utility of good Y must be ________ to have an optimum combination of goods purchased
A) 4 B) 20 C) 60 D) 80