Multiple Choice
The slope of a country's production possibility frontier is equal to _ and the optimal production point is located where the slope is equal to .Assume that output of good Y is measured on the vertical axis,output of good X is measured on the horizontal axis,MPL is the marginal product of labor with a subscript indicating which good,P is the price of a good,and w is the wage rate.
A) - MPLY/MPLX; - PX/PY
B) - MPLX/MPLY; - PX/PY
C) - PX/PY; - MPLY/MPLX;
D) - MPLY/w; - MPLF/w
E) - PX/w; - PY/w
Correct Answer:

Verified
Correct Answer:
Verified
Q36: The effect of trade on specialized employees
Q37: In the specific factors model,a 5% increase
Q38: The Ricardian model of international trade demonstrates
Q39: In the specific factors model,a 5% decrease
Q40: In the two- country model of international
Q42: A worker who has invested in skills
Q43: Economists consider the effects of free trade
Q44: In modern economies,<br>A)outsourcing increases international labor mobility.<br>B)restrictions
Q45: A country's budget constraint states that<br>A)the value
Q46: The slope of a country's production possibility