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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Consider the demand curves for soft drinks shown in the figure above. Moving from point a to point c means that
A) the marginal benefit of each additional soft drink falls. B) the opportunity cost of another soft drink increases. C) people's incomes have decreased. D) the price of a soft drink has increased.
Smart cards will not much affect the demand for money if
A) the money supply is defined to include smart card balances. B) the money supply is defined to exclude smart card balances. C) the balance of the smart card is not considered to be electronic money. D) the reserves of the card issuing institution fall when the smart card is "loaded" with funds from an account the customer already has at that institution.
A line is parallel to the horizontal axis. The slope of the line is
A) infinite. B) indicative of an inverse relationship between two variables. C) indicative of a direct relationship between two variables. D) zero. E) b and d
Points that lie outside the production possibilities curve are ________, and points that lie inside the production possibilities curve are ________.
A. attainable; unattainable B. inefficient; efficient C. efficient; inefficient D. unattainable; attainable