The marginal rate of transformation is the slope of the production possibility frontier.
Answer the following statement true (T) or false (F)
True
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In sequential games,
a. Players take turns and observe their rivals choices before they make their choices b. Players take turns but don't observe their rivals choices before they make their choices c. Players move at the same time d. None of the above
Consider an economy made up of 100 people, 50 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The unemployment rate is approximately:
a. 10 percent. b. 12 percent. c. 17 percent. d. 20 percent. e. 25 percent.
Acreage allotment programs were designed to:
A. reduce the supply of agricultural products. B. make the demand for farm products more price elastic. C. bolster the demand for agricultural commodities. D. accelerate the movement of human resources out of farming.
Medicare's costs have
A. risen, but only with inflation. B. risen on a per capita basis, even accounting for inflation. C. risen, but at a rate less than inflation. D. actually fallen on a per capita basis.