An isoquant is a curve that represents combinations of:
A. factors of production that cost the same amount.
B. factors of production that produce equal amounts of output.
C. output that can be produced at the same cost.
D. output that can be produced from the same quantity of inputs.
Answer: B
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A decrease in growth rates will cause:
An open market operation occurs when ________ buys or sells securities ________
A) the Federal Reserve System; from or to the federal government B) the Federal Reserve System; in the open market C) a commercial bank; from or to the federal government D) a commercial bank; from or to the public
Which of the following is an exogenous variable in the model of a small open economy, but an endogenous variable in the model of a large open economy?
A) B) C C) Y D) NX E) G
A shift in the demand curve will occur when
A) supply shifts. B) the price of an input used to produce the good changes. C) consumers' income changes. D) the price of the product changes.