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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Few bother to think about what makes Florida oranges show up daily in South Dakota supermarkets, but the people of South Dakota are likely to think a great deal about this. Why does someone take the time and energy to assure that oranges that are grown in Florida move more than 1,000 miles before they appear on grocery shelves?
What will be an ideal response?
The absence of significant scale economies in 19th century agriculture outside the cotton South produced all of the following except
(a) More equal income distribution (b) Numerous family farms (c) The widespread need for schools (d) Large, corporate farms using the latest technology
The quantity theory of money states that increases in the money supply result in proportional increases in real GDP
a. True b. False Indicate whether the statement is true or false
If nominal GDP increased, which of the following could also have occurred?
a. Both prices and real GDP decreased. b. Prices remained the same and real GDP decreased. c. Prices decreased and real GDP remained the same. d. Prices increased and real GDP decreased. e. Both prices and real GDP remained the same.