Refer to the information provided in Figure 6.14 below to answer the question(s) that follow.
Figure 6.14Refer to Figure 6.14. At point A, the slope of the indifference curve is
A. -0.67.
B. -1.5.
C. -3.0.
D. indeterminate because the marginal utilities are unknown.
Answer: A
You might also like to view...
When a firm’s AC eventually starts to rise, it is often because
A. executive salaries rise sharply as output rises. B. the ability to manage larger and larger levels of output results in much higher administrative costs. C. marginal cost increases rapidly at higher output levels. D. firm output has started to decline.
Suppose a basket of goods and services has been selected to calculate the CPI and 2009 has been selected as the base year. In 2007, the basket's cost was $64; in 2009, the basket's cost was $68; and in 2011, the basket's cost was $70 . The value of the CPI in 2011 was
a. 97.14. b. 100.10. c. 102.94. d. 109.38.
An advancement in technology will cause
a) the PPF to shift inwards towards the origin. b) the PPF to shift outwards away from the origin. c) the economy to move down along the PPF curve. d) the economy to move upwards along the PPF curve.
Which of the following explains why a monetary policy in a nation with an exchange rate peg, such as Denmark, would NOT be possible?
a. The nation must keep its import tariffs in sync with the import tariffs of the nation to which it pegs. b. The nation must keep its price level and nominal interest rate equal to the price level and nominal interest rate in the nation to which it pegs. c. The nation must keep its taxes and budget deficit in sync with taxes and budget deficit in the nation to which it pegs. d. The nation is no longer able to print its own money, since it is using the currency of the nation to which it pegs.