The rate at which one input can be traded for another at a point along the production possibilities frontier is called the
A. marginal rate of transformation.
B. marginal rate of technical substitution.
C. output price ratio.
D. input price ratio.
Answer: A
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The consumption of fixed capital in each year's production is called ________.
A. net investment B. depreciation C. indirect business taxes D. inventory reduction
Refer to the figure above. Which of the following combinations is attainable but inefficient?
A) A B) B C) C D) D
Your company is considering a project that costs $1,000 up front. It generates a revenue stream of $250 a year for four years. The present value of this project is approximately
a. $0.00 b. $790.46 c. $-209.54 d. It cannot be determined with the information given.
If the number of unemployed is greater than the number of employed, the unemployment rate is
A. over 100%. B. more than 50%. C. less than 50%. D. None of the choices are correct.