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
You might also like to view...
Equilibrium expenditure is the level of aggregate expenditure at which
A) aggregate planned expenditure equals real GDP. B) aggregate private expenditure equals real GDP. C) planned inventory investment equals zero. D) aggregate production equals real GDP. E) aggregate actual expenditure equals real GDP.
As the exchange rate ________, the quantity supplied of U.S. dollars ________
A) falls; increases B) rises; increases C) falls; remains the same D) rises; remains the same E) rises; decreases
If a perfectly competitive firm's marginal revenue is greater than its marginal cost, as it increases its output, its profit ________ and the price it can charge for its product ________
A) increases; does not change B) decreases; falls C) increases; falls D) decreases; rises E) decreases; does not change
Strategic trade policy
a. argues for protecting certain industries that benefit society but that may not thrive in a free trade environment b. advocates quotas on imports of high-tech products c. defends the use of tariffs to protect monopolistically competitive industries d. has been used to justification protection of infant industries e. explains why less developed countries export more raw materials than services