Multiple Choice
The rate at which one good can be converted technologically into another is called
A) the marginal rate of transformation.
B) the marginal rate of substitution.
C) the marginal product of labour.
D) rate of conversion.
E) the marginal product of capital.
Correct Answer:
Verified
Correct Answer:
Verified
Q28: Examples of exogenous variables include<br>A) real wages,
Q30: The second fundamental theorem of welfare economics
Q31: An increase in total factor productivity shifts
Q32: An externality is any activity for which
Q34: A competitive equilibrium is a state of
Q35: Fiscal policy refers to a government's choices
Q36: Immunization from communicable diseases generate<br>A) overproduction.<br>B) a
Q37: Goods and services provided by the government
Q38: In an economic model, an endogenous variable
Q49: In the basic one-period model in Chapter